Kyushu Resorts Japan Won’t Appeal Nagasaki Casino Rejection
Date: 2024-03-13 Author: Dima Zakharov Categories: CASINO
Kyushu Resorts Japan Accepts Decision
Kyushu Resorts Japan, a consortium headed by Casinos Austria, has chosen not to contest the rejection of its Nagasaki casino proposal. Despite winning local approval, the consortium faced a setback from the Casino Administration Committee due to financial uncertainties surrounding the project.
Financial Concerns Hamper Project
The central government expressed concerns regarding the financial viability of the proposed casino project in Nagasaki. With doubts about the certainty of financing, particularly stemming from the troubled state of Credit Suisse, the financial institution set to support the venture, the project faced insurmountable hurdles.
No Appeal Planned
Takashi Oya, the CEO of Kyushu Resorts Japan, stated that the consortium will not file an administrative appeal against the government's decision. He cited the lack of clarity regarding the government's criteria and a general misunderstanding as factors contributing to the project's rejection.
Local Support Wavers
As the deadline for appeals approaches, the Nagasaki Prefecture and its governor, Kengo Oishi, are expected to align with the decision not to contest the rejection. The project's failure signifies a setback for the region's hopes of hosting a significant casino development.
Future of Casino Gaming in Japan
While the Nagasaki project faces a dead-end, construction for the Osaka Integrated Resort is underway, signaling the onset of casino gaming in Japan. Despite this setback, the prospect of integrated resorts continues to intrigue investors and industry players alike.
