Japan.- December 29, 2023 www.zonadeazar.com According to reports in Japan, the Japanese Government has announced the rejection of a proposed casino resort in Nagasaki Prefecture, citing concerns regarding the project’s funding feasibility.
The decision, disclosed on Wednesday, halts plans for the development of an integrated resort at the Huis Ten Bosch seaside resort, based on doubts surrounding its financial viability.
Under scrutiny since April, the Nagasaki integrated resort proposal aimed to replicate the success of a similar venture in Osaka. Projections for the Nagasaki project suggested an anticipated influx of 8.4 million visitors annually, potentially generating an economic windfall of 330bn yen (US$2.34bn) for the region in southwestern Japan – according to reports in Japan.
Government sanctioning is a prerequisite for casino operations in Japan, necessitating a series of approvals and licences. A panel of experts under the Ministry of Land, Infrastructure, Transport and Tourism evaluates resort proposals based on criteria including their capacity to attract overseas visitors, economic benefits and measures against gambling addiction.
Despite the green light given for a casino resort in Osaka earlier in April, the Nagasaki plan lingered in review. Osaka’s forthcoming integrated resort, set to be erected on Yumeshima, an artificial island in Osaka Bay, anticipates drawing around 20 million visitors annually, potentially yielding 1.14tn yen in annual economic benefits upon its projected 2030 fall opening.
Previously in 2021, Nagasaki had approved five groups’ proposals for the integrated resort project, including consortiums like Oshidori International Holdings, Casinos Austria International Japan, Current Group, the Niki Chau Fwu (Parkview) Group and One Kyushu – which involves Pixel Companyz and Groupe Partouche SA.
Edited by @pererarte www.zonadeazar.com