diligently working<\/a> to finalize how its potential project may look ahead of the submission deadline of April 28.<\/p>\nOnly a maximum of three IRs are allowed in this first phase of the launch, but Japan can also approve just one or two, or even none. Wakayama wants to make sure it cannot be left out and is almost ready to present its project.<\/p>\n
Huge Windfall for Local Communities<\/h2>\n
Wakayama has major ambitions for its project but is confident that its numbers are realistic. Within three years, the IR will receive around JPY262.1 billion (US$2.1 billion) in direct revenue. The IR will, at the same time, provide JPY353.4 billion (US$2.9 billion) to Wakayama and JPY545.2 billion (US$4.4 billion) to the Japanese national economy.<\/p>\n
Tax revenue will increase as well. Wakayama estimates an additional tax contribution of JPY41.9 billion (US$338 million) to the prefecture and JPY67.8 billion (US$547 million) in national taxes by 2030.<\/strong><\/p>\nWakayama predicts that each foreign visitor will be worth around JPY171,147 (US$1,380) per trip. This is apart from the gambling spending, with the prefecture hoping to attract a lot of high-end tourists from all parts of the globe.<\/p>\n
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The IR has grown somewhat since its earlier renditions. Now, the casino floor will measure 55,367 square meters (roughly 13.6 acres), 8,867 (95,443 square feet) more than before. However, the gaming area went from 19,857 square meters (213,738 square feet) to 19,643 (211,435). This is approximately 2.8% of the IR.<\/p>\n<\/div>\n
There will be more hotel rooms and MICE (meetings, incentives, conventions and exhibitions) space as well. Wakayama estimates 2,652 keys \u2013 98 more than before \u2013 and the event space will accommodate 9,000. That’s 3,000 more than previously planned. The first step, though, is to receive approval.<\/p>\n","protected":false},"excerpt":{"rendered":"
Less than a month before the submission of final integrated resort projects to the Japanese government, Wakayama has its plans ready. The prefecture is positive that the Wakayama Marina City casino property will be a huge financial success. There’s less than a month to go before the presentations of planned IR projects in Japan. Wakayama […]<\/p>\n","protected":false},"author":64,"featured_media":207043,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,33810],"tags":[],"acf":[],"yoast_head":"\n
Wakayama Lays Out Final Plans for IR, Expects Huge Financial Windfall - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n