Nagasaki requests more casino Austria IR funding in October

Nagasaki Prefecture has asked a casino development consortium led by Casino Austria International Japan Inc. to provide a detailed plan for the consortium’s formation and how to raise funds within this month.

This follows a report on the topics discussed in the most recent session of the current parliament, which ended on Thursday.

According to previously disclosed information, the total investment in the planned plan is 350 billion yen ($3.1 billion). The amount was the lowest in the range, from 350 billion yen to 460 billion yen, set out by the prefecture in the basic concept of integrated resorts (IR). In Japan, large-scale complexes with casinos and related tourism and gathering facilities are known as integrated resorts (IR).

At Thursday’s current parliamentary session, Casino Austria International Japan reportedly received a number of questions from lawmakers, including expressing concern about its ability to provide a quality consortium and the funding needed for its IR plans.

The current government will submit a draft of a district development plan related to the IR plan to Parliament in November, which will be located in Sasebo in the prefecture.

Once the draft district plan is proposed, there will be a period of public opinion on it.

Last month, the prefecture said it expects seven out of 10 desired casino resort visitors to come from within Japan, with the facility generating 150 billion yen in annual gross game revenue (GGR).

On Aug. 30, Nagasaki said it signed a so-called “master contract” with Japan’s Casino Austria International to develop and operate IR in Japan.

Earlier that month, the Casino Australia group said it wanted 220 game tables and 2,200 slot machines at the Nagasaki venue.

Nagasaki says it expects to submit to its government by spring 2022. In Japan, up to three casino resorts will be allowed under the liberalization regime.

Hong Kong-listed investment group Osidori International Holdings Ltd, one of the litigants fired as Nagasaki’s casino partner, said in its first half results filed on Aug. 30 that its experience bidding to cooperate with the prefecture at the casino complex had raised “questions of serious ethical injustice” in the process.

According to Japanese media reports, Japanese company Niki Chyau Fwu (Parkview) Group questioned the integrity of Nagasaki’s selection process.

Nagasaki Prefecture countered that the partner selection process was fair and proper.

BY: 릴게임

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