{"id":265257,"date":"2023-03-20T18:00:54","date_gmt":"2023-03-20T23:00:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=265257"},"modified":"2023-03-21T15:41:19","modified_gmt":"2023-03-21T20:41:19","slug":"fall-of-credit-suisse-wont-derail-nagasaki-casino-funding","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/","title":{"rendered":"Credit Suisse Collapse Won\u2019t Affect Nagasaki Casino Plans"},"content":{"rendered":"

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\u2019s efforts to procure financing for casino-resort plans.<\/p>\n

\"Nagasaki,
A look at the nightlife in Nagasaki, Japan, seen above. The collapse of Credit Suisse won’t affect the prefecture’s casino ambitions. (Image: Live Japan<\/em>)<\/figcaption><\/figure>\n

Last year, Nagasaki Governor Kengo Oishi mentioned Credit Suisse as one of the potential financiers of the prefecture\u2019s integrated resort project.<\/p>\n

Currently, Nagasaki and Osaka are the only<\/a> 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.<\/p>\n

Oishi told the media last Friday that \u201cthe prefecture has gathered information\u201d on the demise of Credit Suisse. He said the integrated resort \u201cfunding plan should not be affected by the issue.\u201d<\/strong><\/p>\n

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\u2019s seen several US banks collapse<\/a> and others forced to the brink.<\/p>\n

Nagasaki Has Financing Options<\/h2>\n

The territory has options even with Credit Suisse out of the mix to provide capital for a Nagasaki gaming venue.<\/p>\n

Last September, Oishi mentioned Cantor Fitzgerald and CBRE could also be contenders to provide financing for the integrated resort effort. It\u2019s also possible that other lenders sense an opportunity to get in on the ground floor of Japan\u2019s casino gaming industry. For now, UBS hasn’t said whether or not it will evaluate Credit Suisse\u2019s role in Nagasaki.<\/p>\n

\n

It\u2019s 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.<\/p>\n<\/div>\n

Japan already has a reputation for bureaucratic delays and snafus<\/a> regarding its integrated resort process. For now, Nagasaki<\/a> and Osaka are most likely home to Japan\u2019s first gaming venues. But debuts of those properties are still years away.<\/p>\n

Signs of Optimism for Japan Casinos<\/h2>\n

Prime Minister Fumio Kishida<\/a> is supportive of casino gaming as an avenue for boosting tourism to the world\u2019s third-largest economy.<\/p>\n

\n

That\u2019s a start. But it doesn\u2019t 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 analysts believe the earliest gaming venues will open in the country will be sometime between 2028 and 2030.<\/p>\n<\/div>\n

If those properties debut sooner than expected and outperform revenue expectations, other gaming companies may revisit the idea of Japan venues. But for now, that\u2019s a far-off prospect.<\/p>\n","protected":false},"excerpt":{"rendered":"

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\u2019s efforts to procure financing for casino-resort plans. Last year, Nagasaki Governor Kengo Oishi mentioned Credit Suisse as one of the potential financiers of the prefecture\u2019s integrated resort […]<\/p>\n","protected":false},"author":46,"featured_media":204837,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nFall Of Credit Suisse Won't Derail Nagasaki Casino Funding<\/title>\n<meta name=\"description\" content=\"Credit Suisse drama won't hinder Nagasaki access to casino capital.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fall Of Credit Suisse Won't Derail Nagasaki Casino Funding\" \/>\n<meta property=\"og:description\" content=\"Credit Suisse drama won't hinder Nagasaki access to casino capital.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T23:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-21T20:41:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/Huis-Ten-Bosch.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2302\" \/>\n\t<meta property=\"og:image:height\" content=\"1487\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/\",\"url\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/\",\"name\":\"Fall Of Credit Suisse Won't Derail Nagasaki Casino Funding\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/Huis-Ten-Bosch.jpg\",\"datePublished\":\"2023-03-20T23:00:54+00:00\",\"dateModified\":\"2023-03-21T20:41:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Credit Suisse drama won't hinder Nagasaki access to casino capital.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/fall-of-credit-suisse-wont-derail-nagasaki-casino-funding\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/Huis-Ten-Bosch.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/03\/Huis-Ten-Bosch.jpg\",\"width\":2302,\"height\":1487,\"caption\":\"A look at the nightlife in Nagasaki, Japan. 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