Cantor, Credit Suisse eye Nagasaki IR finance, says governor

Sep 07, 2022 Newsdesk Japan, Latest News, Top of the deck  

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United States-based financial services company Cantor Fitzgerald and investment bank Credit Suisse have been identified by Kengo Oishi, governor of Nagasaki prefecture, as having interest in being “financial arrangers” for that Japanese community’s tilt at getting an integrated resort (IR) with a casino.

Mr Oishi gave the information on Tuesday, in a regular briefing for the media, mentioning some details that had been outlined at a September 2 meeting of Nagasaki’s IR special committee, according to GGRAsia’s Japan correspondent.

The financial institutions might have involvement with “80 percent of the equity part” of the funding, as well as organising a loan portion of the capital, said Mr Oishi.

At the September 2 meeting, it had been said they had given “commitment letters” regarding acting as financial arrangers.

A figure of JPY438.3 billion (US$3.04 billion) has been mentioned for Nagasaki’s scheme. The metropolis (pictured) made an application to the national government in late April, and might receive feedback before year-end. Osaka also submitted a proposal for an IR.

Cantor Fitzgerald had previously been mentioned as a possible financial services provider for an IR mooted for Japan’s Wakayama prefecture.

In mid-April, Wakayama said it was exiting the Japan IR race after its prefectural assembly rejected its plan.

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