The money will be spent on a development plan to accommodate for a casino to be built in the city, which sits just south of Tokyo. The prefecture will have to partner with a company to build the resort, and some of the money will go to that end as well. Funds are also being allocated to research, including background checks on prospective investors.
Japan legalized gambling a few years ago, but working to design and build casinos has been a slow process. Casinos were initially slated to be open for the 2020 Olympics, but that hasn’t panned out.
We’re following the casino buzz in Japan and will be updating readers as developments pan out.