Saturday, July 13, 2024 - Login

Wakayama prefecture publishes revised IR plan

The Wakayama Prefectural Government has published its revised IR plan taking into account aspects of the IR Implementation Act and suggestions made by the 33 companies, including seven international IR operators, that participated in the RFI process which concluded in August.

The revised “Wakayama Prefecture IR Basic Concept” is a 56-page document, building on the original document which had been published in May.

The revised document puts greater emphasis on the possible synergies that could be created between a Wakayama Marina City IR and a larger IR at Osaka’s Yumeshima. There is also more detail on the potential economic effects and on the “IR Card” concept which the prefectural government is touting as a major countermeasure against gambling addiction.

Wakayama Governor Yoshinobu Nisaka stated at the press conference, “If we are not selected as one of the three licensed IR locations, then nothing can begin, but we will continue to present the revised basic concept.”

Governor Nisaka also stated that the RFI revealed that IR operators have no significant location within the prefecture other than the proposed Marina City site.

As for Marina city, at least a few of the international IR operators proposed initial investment levels in excess of JPY280 billion (about USD2.5 billion), including the concept to build a 3,000 room hotel and a 50,000 square meter conference and exhibition facility.

Meanwhile, the anti-casino gubernatorial candidacy of Masayoshi Hatanaka has also gotten under way. Speaking at the opening of his campaign office last week, Hatanaka declared, “This is the last election that can stop the casino!”

Election Day is November 25.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief