However, Japan’s Ministry of Land, Infrastructure, Transport, and Tourism is having none of it, as the government has qualms about the feasibility of the project as submitted by Nagasaki.

Nagasaki Misses the Mark with Government

Kyushu Resorts Japan and Nagasaki prefecture will have to go back to the drawing board or fold their bid altogether. Government officials have expressed open worry over the nature of financing of the proposed projects.

There seems to be an unsatisfactory level of commitment outlined in the letters that are supposed to show support and outline the terms of funding. They are customary and usually enough to convince government officials to indeed agree and proceed with the further stages of a project.

As such, the panel that weighed in on the decision said that they still doubted whether the proceedings could move on due to this lingering fear of lack of funds. It’s not just the funding, though, as the panel is similarly dubious of the chosen companies that will supposedly operate the project.

Casinos Austria International was the only participant who had a hands-on approach in such matters, and it was unlikely that CAI alone would make up for all the participants in the Kyushu Resorts Japan consortium. More worryingly, CAI’s investment is smaller than that of keener but less experienced parties.

Lack of Expeirence and Other Concerns

There was also outlined fear about how the proceeds from an operational casino resort would be divvied up, as too many investors – as is the case with Nagasaki’s bid – would mean that there will be many parties that are eager to recoup their investment overlook other important aspects, such as eliminating the harmful influence of casinos.

Nagasaki still has plenty of time to consider a revised bid, although securing more investors – or the right investors as it were – and eliciting stronger commitment would prove the most difficult part.

Still, overblow fears of recession and a flagging economy may embolden overseas companies with plenty of experience and cash on hand to move more strongly on Japan, and use the near-miss Nagasaki just had with the government to rally and potentially host one of the casino resorts – a total of three to arrive in the year over the next decades or so.

Osaka in the meantime has been gaining steadily with its construction and is likely to arrive on time.

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The principality has 40,000 denizens and six casinos. Casinos were legalized and began operations about five years ago. Most of the footfall comes from neighboring countries like Austria and Switzerland as well as from Germany. Liechtenstein is ranked as the wealthiest country in the world with an annual per-capita income of $175,813.

The signatures needed for the referendum as well as the wording were brought about by IG Volksmeinung, a pressure group formed to oppose casinos in Liechtenstein.

Reasoning in favor of the ban included perceived damage to the country’s reputation, and the fear of gambling addiction, especially among the less wealthy residents. Those arguments were rejected decisively with about 73% rejecting the ban, and about 27% supporting it. Voter turnout was about 70%.

The certified numbers were 10,383 in opposition to the ban (73,3%) and 3,779 in favor (26.7%).

Government Opposed Referendum

The government as well as the country’s prince opposed the referendum and spoke out against it, encouraging the populace to vote “no” on the ban. Had the measure passed, the six existing casinos would have had five years to wind up operations.

Arguments against the casino ban included an assessment that it was too drastic and didn’t actually address gambling harm. It was also noted that casinos have become an important source of revenue. Actual damage to the country’s reputation is stable and reliable could also be seen to occur if the industry was exiled.

In early November last year, the IG VolksMeinung attempted to get Lantag to ban the casinos. Principality law requires that the government had 14 days to call a referendum under the People’s Rights Act and the referendum had to be presented to voters within three months.

The constitutional amendment was rejected on Sunday, January 29, 2023.

Industry Oversaturated

Late last year, as reported on G3 Newswire, the Liechtenstein Casino Association is well aware that the market may not be well served by so many casinos. A statement read: “The casino association understands such concerns and sees no economic basis for so many casinos in the future. Both the government’s moratorium and the measures already taken prevent further growth and accelerate the consolidation of the market situation. For these reasons, a ban on casinos is not necessary. Well-known experts do not see a solution in a ban. Experts call for active player protection that quickly identifies problematic gambling behavior and shows the guest solutions.”

The statement continued: “Due to the legal requirements, the casinos spend very high amounts and human resources on prevention work every year. Employees are trained, problematic players are addressed and, where necessary, excluded from the game. All this no longer exists with a ban.”

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