Fall Of Credit Suisse Won’t Derail Nagasaki Casino Funding

Must read

[ad_1]

Posted on: March 20, 2023, 06:00h. 

Last updated on: March 20, 2023, 06:00h.

UBS is acquiring rival Swiss bank Credit Suisse for $3.25 billion in a transaction that some experts say is really a bailout, but it may not harm Nagasaki’s efforts to procure financing for casino-resort plans.

Nagasaki, Japan
A look at the nightlife in Nagasaki, Japan. The collapse of Credit Suisse won’t affect the prefecture’s casino ambitions. (Image: Live Japan)

Last year, Nagasaki Governor Kengo Oishi mentioned Credit Suisse as among the potential financiers of the prefecture’s integrated resort project. Currently, Nagasaki and Osaka are the only Japanese prefectures with casino proposals before the federal government. MGM Resorts International is the operator partner for the Osaka venture while Casinos Austria is the gaming company working with Nagasaki.

Oishi told members of the media last Friday that “the prefecture has gathered information” on the demise of Credit Suisse and integrated resort “funding plan should not be affected by the issue.”

Credit Suisse — a 166-year old financial institution listed as one of the 30 systemically important global financial institutions — is the latest casualty in a crisis that’s seen several US banks collapse and others forced to the brink.

Nagasaki Has Financing Options

Even with Credit Suisse out of the mix to provide capital for a Nagasaki gaming venue, the territory has options.

Last September, Oishi mentioned Cantor Fitzgerald and CBRE could also be contenders to provide financing for the integrated resort effort. It’s also possible that other lenders sense opportunity to get in on the ground floor of Japan’s casino gaming industry. For now, UBS has not said whether or not it will evaluate Credit Suisse’s role in Nagasaki.

It’s estimated that a Nagasaki integrated resort could cost $3 billion to $4 billion, but a sizable stake in the project could entice lenders. On the other hand, Japan developed a dubious reputation in terms of getting its casino industry off the ground, chasing a slew of large contenders off in the process.

Japan already has a reputation for bureaucratic delays and snafus regarding its integrated resort process. For now Nagasaki and Osaka are the cities most likely to be homes to Japan’s first gaming venues. But debuts of those properties are still years away.

Signs of Optimism for Japan Casinos

Prime Minister Fumio Kishida is supportive of casino gaming as an avenue for boosting tourism to the world’s largest third-largest economy.

That’s a start, but it doesn’t mean the licensing process will be expedited nor does it imply the government is considering awarding more than three gaming permits to start. Owing to Japanese authorities moving slowly on the casino front, some analyst believe the earliest gaming venues will open in the country will be sometime between 2028 and 2030.

It’s possible that if those properties debut sooner than expected and outperform revenue expectations, other gaming companies will revisit the idea of Japan venues, but for now, that’s a far-off prospect.

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article

game penuh kemenangan slot lucky neko banjir wild emasledakan maxwin slot sweet bonanza auto pecah perkalian tinggisistem slot online terbukti gacorcara terbaik memanfaatkan rtp slot onlinelive pola slot terbaru gates of olympusrahasia jitu slot gacormenggunakan arwah masa lalu untuk membantu anda maxwin mahjong waysmenang 35juta pada scatter hitam slot mahjong waysputran spin gila slot mahjong ways 2 langsung pecah scatter sensasionalrahasia bigwin slot starlight princess langsung jadi sultan kayasistem kemenangan maxwin dengan slot olympus 1000 jaminan menang 500 jutasitus gama69 situs terbaru anti boncospola gacor baruy slot fortune tiger gampang pecah wild besargame slot gacor terbaik terpercaya lengkap dengan trik maxwin cara memperkaya diri dengan bermain slot starlight princessbocoran admin yami slot terbaru mudah maxwinadmin jarwo slot gacortrik jitu wd cepat kilatslot super mahjong ways dengan depo minimal 20k gampang maxwinrahasia para pemain bisa menang berkali kali pada slot starlight princess x1000slot anti rungkad bocoran terbarucara jitu bermain slot mudah jackpotrahasia pola slot sweet bonanzasensasi link gacor mudah jp mahjong ways2game slot online terbaruPputaran slot mahjong ways turunkan scatter tanpa bataspola garis 3 scatter hitam mahjong waysmitos dan fakta dari scatter hitam slot mahjong waysgame slot gacor terbaik terpercaya lengkap dengan trik maxwin olympus slotputaran slot mahjong ways turunkan scatter tanpa batasmudah banget maxwin main slot online gates of olympusslot gacor mahjong ways 2 kemanangan maksimal 100 jutatips mendapatkan perkalian jitu slot mahjong wayskemenangan terbesar dari slot jitu super mahjong wayssitus slot anti boncos terbaik di indonesiaslot hoki pembawa berkah slot mahjong ways 2 langsung hoki cair 20 jutapola jitu gampang menang emperor caishenpanduan lengkap meraih maxwin di slot gates of olympus x1000prediksi game slot online terbaruslot super mahjong ways gampang sensasional jackpot terbesartips menang besar dengan pola admin pusat slot gacorlangkah langkah mendapatkan kemenangan besar di slot mahjong wayscara mudah main slot online mahjong ways banjir scatter hitampola populer turunkan slot scatter hitam mahjong secara konsistenteknik jitu modal bet receh slot mahjong ways gampang raih slot scatter hitamjam gacor pasti jackpot besar langsung dari admin jarwo jam jatuh slot scatter hitam aslifitur akhir bulan mei dapatkan hadiah langsung jika berhasil dapatkan scatter hitam langkaslot sensational mochimonslot janji gacor 500 juta cocok untuk mesin slot olympus maniaslot online sweet bonanza 1000 mudah maxwinslot gacor terbaru gates of gatotkaca 1000 dari pragmaticrahasia pekalian beruntun slot wild west goldscatter hitam trend 271trejeki nomplok pada slot gates of olympuspengalaman tak terlupakan ketika maxwin gates of olympusjackpot spektakuler slot gates of olympusstrategi ampuh menang slot olympuspola terbaru bocoran kemenangan slot raging rhino terpercayaslot starlight princess 1000 sudah pasti anti rungkadcara jitu bermain slot onlineprediksi slot online terbarupola jp paus slot starlight princesstips gacor server thailandcucu kakek berbagi maxwin di slot starlight princess x1000jadilah juara di setiap tantangan bersama slot gacor anti rungkadslot gacor paling aman slot gacor anti rungkadslot gacor olympus gampang menang besar dalam 1kali fiturakhirnya kakek turun gunung turunkan petir untuk kemenangan kitabanjir pola scatter hitam mahjong ways terhebohcucu meminta hoki menang dengan kakek zeyuusssgabungan petir dan listrik memecahkan pola x500 princessnaga hitam pembawa rezeky mahjong wayspasti hoki mencari pola dengan bang toyib di slot zeyuspola dari ahlinya slot langsung memberi kemenangan pastiputri cantik dan baik hati pemberi keberuntungan menangsaran dari dukun gondrong di jamin gacor slot princesswajib jackpot pola paling gacor slot mahjong ways