Asia

Nagasaki to establish an IR in 2024

Published

6 years ago

March 13, 2019

Niji Narayan

Photo Source: asgam.com

Reading Time: < 1 minute

Nagasaki, a Japanese province where atomic bomb was infamously used in the Second World War, could be hosting an integrated casino resort by 2024. The prefectural government’s IR Promotion Office has decided to form a “review committee” shortly for the purpose. The committee will comprise ten legal and financial experts who would select the prefecture’s operator partner.

There are about 20 operators interested in bidding for a project, the Nagasaki government says. One operator in particular is potentially interested in investing €3.2 billion in a Huis Ten Bosch-linked development.

Besides Nagasaki, Osaka is one of the front-runners for an IR licence (but in the short term) and, according to experts, a potential venue would have a great impact in the region’s economy.

Japanese brokerage Nomura assessed that the Osakan economy would be boosted hugely by a potential IR bid win, as well as if the region wins the bid to host the World Expo in 2025. “A win for both the World Expo bid and the casino licence would be expected to boost investment returns and have a positive impact on Osaka’s economy,” the brokerage said in a recent note.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.