Nagasaki announces proposal for IR bid
The city of Nagasaki has released details on its bid for an integrated resort that will see a development budget set between JPY320bn ($3bn) and JPY550bn, as reported by Inside Asian Gaming.
The Fundamental Plan Proposal will be available on the prefecture’s website from Tuesday and will show how the city will meet Integrated Resort Development Act requirements of including a large hotel, international conference hall and exhibition hall to accommodate at least 12,000 people.
As part of the proposal, Nagasaki is planning to acquire a plot of land from the Huis Ten Bosch theme park to build its integrated resort.
The integrated resort will cover an area of 32 hectares in total. As per government stipulations, the hotel will be at least 100,000 square metres, the floor area of the exhibition hall will be at least 20,000 square metres and the international conference hall will have space for 6,000 people.
The city will select an operator to manage the casino before autumn 2020, with the goal of opening its doors to the public in 2024.
Bill Hornbuckle, MGM Resorts International COO, recently emphasised the potential behind the Japanese market to Gambling Insider.
He said: “Japan is the largest untapped market in the world that we think can be regulated properly and a place we might be able to get to. It represents the economics of something like Singapore.
“Each licensee will have an audience of about 30 million if they are spread out correctly. So we’re all in. We’ve taken an Osaka-first position and we want to build something extremely special.”
A maximum of three integrated resort facilities will be sanctioned by the government next year, with Nagasaki, Osaka, Wakayama and Yokohoma all interested.