fbpx

SiGMA

How is Casinos Austria expected to come up with the agreed budget for the IR? Nagasaki requests further info

Posted:: Dec 06, 2021 10:34 Category: Asia , Casino , Land-Based , Posted by Maria

Concerns raised about how the private partner would collect funding to construct the IR in Nagasaki

During the most recent Prefectural Council meeting, concerns were raised about how the private partner would collect funding to construct an integrated resort in Nagasaki.

nagasaki prefectural government
The Nagasaki Prefectural Government chose Casinos Austria International as its preferred IR partner.

According to reports from GGRAsia, a recent conference, an anonymous member questioned if all aspects of the large project had been fully studied. The current proposal is for a casino resort to be built at a cost of around US$3.09 billion. However, the person suggested that a higher investment could be required.

The Nagasaki Prefectural Government chose Casinos Austria International as its preferred IR partner in August, and the two firms inked a master agreement dubbed “Kyushu-Nagasaki IR.” The IR development is expected to cost US$3.2 billion and will include eight hotels, conference and exposition facilities, as well as a range of food and retail choices.

The county responded by stating that it will shortly submit a draft of its regional development plan to the relevant parliament committee, but there was no information about consortium construction or funding.

Budget concerns have arisen in the past. Nagasaki requested further information from Casinos Austria about how it expected to come up with the budget it agreed to contribute for the IR around two months ago.

According to reports, the corporation is putting together a profile to present to the government. Nagasaki is also willing to attempt to rekindle support. It claims to be nearing the completion of its IR-related District Development Plan. That proposal, however, will not provide the needed financials.

SiGMA Calendar 2022

2022 will see SiGMA Group launch in a number of exciting up-and-coming locations, the first of which will be Kenya, with Nairobi on the agenda for March. Here we plan to tap into a marketplace bursting with sports fans, and a young, digitally connected generation. We’ve also planned expos for countries taking their first steps as regulated marketplaces – in June we’ll be heading to Toronto and Ukraine – in what will be the first live events for new brands SiGMA Americas and SiGMA CIS. Both countries are set to test the waters with operators and affiliates next year, making them a great location for SiGMA Group’s conference stage and buzzing expo floor.

Related Posts

[WATCH] “A Malta built for…

In his keynote speech during SiGMA Europe, Hon. Silvio Schembri, Minister for the Economy, addresses those showing trust in Malta,…