The Nagasaki Prefectural Government has revealed that the costs for the development of its planned IR project have increased 25 per cent. According to the prefectural government and Casinos Austria International Japan, its partner, the development phase will cost JPY351.8bn. Other costs, including working capital will raise the cost to JPY438.3bn.
The equity portion will be JPY175.3bn, of which 60 per cent will come from Casinos Austria International Japan, 30 per cent from other foreign companies and 10 per cent from Japanese companies. Casinos Austria International Japan is expected to complete the financing in April.
The Nagasaki Prefectural Government has previously said it expects the IR to open in 2027 and to generate annual gross gaming revenue (GGR) of JPY150bn (US$1.37bn), assuming it gains a licence.
As part of the Tokyo Metropolitan Government’s fiscal year 2022 budget, Tokyo’s Bureau of Port and Harbor has secured JPY10m (US$87,000) for an integrated resort (IR) study.
Last October, Japan’s bicameral legislature opened the application window for three integrated resorts licences. Those cities and prefectures interested have until April 28 2022 to submit their final project proposals.
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