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Nagasaki IR partner president to not appeal Tokyo’s ‘no’

March 12, 2024 Japan Industry Updates

As part of Nagasaki’s bid for an integrated resort (IR) with a casino, Kyushu Resorts, led by Takashi Oya, announced on Monday that they would not be asking the local government to file an administrative appeal against the decision made by the national authorities to reject the proposal in December.

Speaking before the general affairs committee of the Nagasaki prefectural assembly, Mr. Oya said, “We are not going to make an administrative appeal request to have the plan examined again, because there should be more demerits than merits.”

“Casinos Austria International Japan” and “Kyushu Resorts Japan and advisors” were previously identified as private-sector partners for the IR project by the Nagasaki Prefecture’s IR Promotion Division.

Mr. Oya emphasized that they continued to believe that adoption of the Nagasaki IR District Development Plan was justified. He gave evasive national government reasons for rejection, such as assurances of money and execution capacities, which led to a miscommunication on this issue between Nagasaki and national authorities.

An estimated JPY438.3 billion (US$2.98 billion) was raised under the Nagasaki plan.

Last month, Governor Kengo Oishi said that local officials thought it was “almost impossible” for Japan’s central authorities to change their mind on rejecting the conurbation’s plan that was submitted in April 2022, based on legal advice.

Sources claim that on Wednesday, Mr. Oishi may provide an explanation for his choice not to file an appeal.

The prefecture’s general affairs committee examined last week the proposals to rename the IR Promotion Division the “IR Office” and “downsize” it for this year.

The prefecture’s Sasebo theme park, home of the Nagasaki IR project, was to be situated there. Cantor Fitzgerald Securities Japan Co Ltd, CBRE, and Credit Suisse AG were the project’s “financial arrangers”.

Original story by: GGRAsia

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