GGRAsia – Osaka casino development plan approved: govt

Osaka casino development plan approved: govt

Apr 14, 2023 Newsdesk Japan, Latest News, Top of the deck

Japan’s government has approved the so-called Integrated Resort (IR) District Development Plan of Osaka in relation to a tourism complex with casino. That was after a meeting on Friday, of the Headquarters for the Promotion of Integrated Resorts.

Other regulatory steps are needed before a casino can be authorised for operation.

Fumio Kishida, Japan’s prime minister, was cited by the Jiji Press agency as saying on Friday at the IR headquarters meeting, that the Osaka resort complex would “not only help develop the Kansai region further after the 2025 World Exposition in Osaka and contribute to our country’s economic growth, but also become a tourist attraction that spreads Japan’s charm to the rest of the world”.

Last weekend, the newly re-elected governor of Osaka prefecture, Hirofumi Yoshimura, reaffirmed Osaka’s aim of “targeting to open an IR in 2029″.

According to the Osaka proposal (pictured in an artist’s rendering), a consortium including United States-based casino operator MGM Resorts International – majority owner of Macau concessionaire MGM China Holdings Ltd – will develop the Osaka resort in partnership with Japanese group Orix Corp.

The meeting of the IR promotion headquarters included all members of the country’s cabinet, and was headed by Mr Kishida, as per the reports.

The Osaka facility will be at Yumeshima, an artificial island in Osaka Bay, that will first host World Expo 2025. The Osaka IR investment is earmarked at JPY1.08 trillion (US$8.1 billion at current exchange rates). The developers aim to attract an estimated 20 million visitors per year, according to previously-disclosed information.

Some reports earlier this the week said a decision on Nagasaki, which also submitted in April 2022 its own plan for an IR, will be made later. An investment of JPY438.3 billion had been mentioned in relation to that proposal.

At least one news outlet reported on Friday that Nagasaki was not mentioned at the latest meeting of the IR promotion headquarters.

(Updated 12.25pm, April 14)