Nagasaki Prefectural Government Asks Casinos Austria for Details on IR Plan

The Nagasaki Prefectural Government has asked Casinos Austria International Japan Inc to present a point-by-point plan of the consortium’s structure and how it will raise funds before the end of October.

After a new meeting on Casinos Austria International Japan Inc plans for the development of an integrated resort in Nagasaki, authorities have requested that the operator provide a detailed plan of its consortium’s construction and to explain how it intends to raise funds.

Some at the meeting expressed doubts about the capacity of Casinos Austria International Japan to finance for the IR development. The planned total investment for the IR development is JPY350bn (US$3.2bn). The group plans to build eight hotels, conference and exhibition facilities and a variety of dining and retail options.

The company said the resort would feature 220 gaming tables and 2200 slot machines. It would create nearly 30,000 jobs and attract up to 8.4 million visitors a year to the Sasebo venue.