The Japanese government has rejected Nagasaki's proposal for a casino resort
The announcement was made today by the Japan Tourism Agency, which operates under the Ministry of Land, Infrastructure, Transport and Tourism. It was noted that a special committee reviewed Nagasaki's proposal for an integrated resort with a casino and deemed the certification of the project impractical, as it did not align with Japan's international relations policy standards.
The agency emphasized that there is insufficient evidence to support confidence in the funding for the proposed resort in Nagasaki. Additionally, it was pointed out that the list of parties involved in the project has significantly changed since the application was submitted. Finally, authorities expressed doubts about whether the companies engaged in the project possess the necessary experience and expertise in developing and operating integrated resorts.
Nagasaki's application was submitted in April 2022, around the same time that Osaka put forward its own proposal for a casino resort, which has since been approved by the Japanese government. The joint project between American operator MGM and Japanese corporation ORIX is expected to be realized no earlier than the fall of 2030.
Nagasaki's proposal included an investment of 438.3 billion yen (approximately 281.6 billion rubles) for the potential casino resort. Casinos Austria International Japan Inc. was set to be the commercial partner, while financial organizers included Credit Suisse AG, CBRE, and Cantor Fitzgerald Securities Japan Co. Ltd.
Notably, the UK National Lottery paid out over £4.5 billion in prizes in 2023.
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