Casino-entertainment company Bally’s Corporation has declared its interest in pursuing an integrated resort opportunity in Fukuoka, Japan. The business unveiled details of its bid to develop and operate a venue there during a press conference on Wednesday.
While the gaming heavyweight expressed hopes of earning a license and opening its venue by 2028, Fukuoka has not declared itself a candidate location for one of the country’s first three resorts. Even though Fukuoka is Japan’s sixth-largest city, thus making the prefecture a likely candidate, the mayor said earlier this month he was not interested in turning the city into an IR host.
But most importantly, the Kyushu Island government, where Fukuoka is located, has already backed an existing bid for Nagasaki. The Kyushu IR Promotion Council -to which all the Kyushu prefecture governors belong- has supported the project, which is at the moment one of only three locations -along with Wakayama and Osaka- that have confirmed their intention to bid.
Company officials confirmed on Wednesday that Bally’s has submitted a basic plan and related documents to the mayor of Fukuoka and other key stakeholders. The company’s intention is to push for the development privately, seeking to gain support prior to the 28 April deadline for submission of bids to Japan’s government.
Bally’s plan reportedly includes an approximate development cost of JPY 480 billion ($3.9 billion). The casino giant believes its IR project could attract 4.6 million annual visitors once operational, leading to sales of JPY 249.5 billion ($2 billion).
Christopher Jewett, vice president of corporate development for Bally’s, said at Wednesday’s press conference that Fukuoka “has tremendous potential as a host community for an integrated resort.”
“The project can raise the stature of this historic region into a true international destination in keeping with its long and rich heritage,” Jewett added. The preferred site for the project is the Uminonakamichi Seaside Park and, according to materials presented at the meeting, the complex would feature 2,000 hotel rooms and a 161,459 sq feet casino.
Although Bally’s proposal seems to come late to the race, given there is only about one month left for the company to campaign in favor of its bid, the Fukuoka project could see backing from stakeholders that have long supported the city as a potential host. Many believed Fukuoka is a more natural candidate when compared to Nagasaki given its larger population.
So far, up to three licenses are set to be issued under Japan’s liberalization programme. While Jewett conceded that the 28 April deadline is getting closer, he said Bally’s believes there could be a possibility that after the national government assesses the initial round of proposal, “that it will choose to reopen the bidding process.”
Should that happen, Jewett and Bally’s believe Fukuoka, the second-largest port city after Yokohama, “has the potential to position itself as a strong candidate” for selection. “It is clear however that no proposal is possible without the strong support of the many constituents in the community,” he added.
