Nagasaki prefecture in Japan has revealed further details of plans to host an integrated casino in Japan through its ‘Fundamental Plan Proposal.’
The proposal has a development budget of $3bn – $5.1bn and calls for an integrated resort with a large hotel, international conference hall and exhibition hall to accommodate at least 12,000 people.
The plan also mentions the acquisition of land from the Dutch-inspired theme park Huis Ten Bosch. Nagasaki prefecture would seek proposals from prospective developers by March next year.
The deadline for the completion of Nagasaki casinos would be 2024. The resort will host a hotel with a total guest room area of the hotel must be at least 100,000 square meters and floor area of the exhibition hall at least 20,000 square meters. The international conference hall must have the capacity for at least 6,000 people.
There are now only three contenders for a casino resort in Osaka which has been amongst the first to initiate an RFP process. MGM is reportedly the top contender for a casino license in Osaka prefecture.
According to Fitch Ratings, MGM is the top contender for the Japanese IR license in Osaka. Moreover, GGR Asia reports that MGM is emerging as the preferred choice for Osaka Casino.
MGM Resorts International, Genting Singapore, and Galaxy Entertainment Group are in the race for a casino license in Osaka.
Several gambling operators from across the globe are looking to tap into the newly regulated Japanese casino gambling market. The Japanese casino gambling market is expected to be the third-largest only after Macau and Nevada. It is expected to generate $8 billion in revenue annually.