The final draft of the regional development plan for Nagasaki’s IR bid has been approved by the Sasebo City Council.
Passed by majority, with only a single vote against, the regional development plan will be submitted to the national government assuming approval by the prefectural assembly.
According to this plan, the total investment will be approximately JPY 440 billion (US$3.5 billion) with Kyushu Resorts Japan – the special purpose company established by planned operator Casinos Austria International Japan (CAIJ) – to develop the hotel and MICE facilities with an aim to open for business in autumn 2027. Annual sales are estimated to reach JPY 218 billion (US$1.72 billion) by the fifth year of operation and attract 6.73 million annual visitors, with an economic ripple effect of JPY 323 billion (US$2.56 billion).
Regarding funding, CAIJ and Nagasaki prefecture claim that, with the support of American commercial real estate services and investment firm CBRE Group, they have already obtained letters of commitment pledging investment exceeding the planned JPY 440 billion in development costs from domestic companies. However, the names of the investing companies have not yet been disclosed.
The deadline for submission of final bids to the central government is 28 April 2022.
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