Deloitte gets contract to help Osaka oversee IR work

Jun 27, 2023 Newsdesk Japan, Latest News, Top of the deck  

---

Business consultancy Deloitte Touche Tohmatsu LLC has been chosen by Japan’s Osaka prefecture to provide it support services for the monitoring of the business activities of the metropolis’ chosen development consortium for an integrated resort (IR) with casino.

Deloitte Touche Tohmatsu’s role will include provision of support for the monitoring of financial, legal and technological IR-related activities of the special-purpose company set up by private investors in order to develop a casino complex at Yumeshima Island in Osaka Bay.

The consultant was the only bidder in Osaka prefecture’s request-for-proposal, which covers support for oversight relating to financial year 2023-24, according to GGRAsia’s Japan correspondent.

The proposed fee for the work was just over JPY84.9 million (US$593,000), including consumption tax.

A unit of United States-based casino operator MGM Resorts International is 40-percent equity partner in the JPY1.08-trillion IR scheme, with Japan’s Orix Corp also on 40 percent. The remaining 20 percent is shared between a number of other Japanese investors.

In May the governor of Osaka prefecture said the local authorities and their development partners would by September have ready in draft form a project implementation agreement.

---

---