Nagasaki selects three possible companies while Yokohama outruns Osaka
Japan’s IR process is showing signs of movement with Nagasaki and Osaka making the news, advancing what has become a slow process towards building the country’s first casinos.
The Nagasaki Prefectural Government has announced narrowing of the field in search for an Integrated Resort with casino partner down to three candidates, and has chosen Casinos Austria, Oshidori Group and NIKI Chau Fwu; eliminating Current Group and One Kyushi from the running.
Commenting on the choice of bidders, Nagasaki Governor Hodo Nakamura said that each group had been assessed for their concepts, as well as operational track records and financial capacity, adding: “The three finalists will now be asked to provide a much more detailed proposal and we plan to select our operator partner this summer. It is also important to thank all of the five applicants for their interest and devotion to the development of an IR in Nagasaki. We are grateful for the time and effort they all have put into their initial proposals.”
Nagasaki expects to choose its partner in the summer or autumn of this year with final approval in spring of 2022. If all goes to plan, it may break ground in 2023, with the IR looking to open by the mid to late 2020s, years behind the original plans for Japan’s casino rollout.
Meanwhile, the Osaka prefecture, which started as a favourite and is ending with just one prospective partner, is throwing the net wider in the hope of attracting another suitor, with Hong Kong-listed Oshidori recently teamed with Mohegan Sun to strengthen its chances with strong intentions to build a world class resort in Sasebo City.
Osaka said it had finalized an “implementation policy” that summarizes the conditions required of integrated resort (IR) operators. As a result, it will now accept further bids up until April 6th, stating in a press release that, “the conditions, including the selection schedule, have changed significantly, and additional public offerings will be made from the perspective of fairness.”
Osaka had started the IR process as one of the most sought-after destinations for international operators such as Genting Singapore; Las Vegas Sands; Melco Resorts and Entertainment and Wynn Resorts joining MGM. However, the late entrance of Yokohama into the race in 2019 saw Osaka’s suitors swiftly turn their attention to the bigger metropolis.
