GGRAsia – Osaka online public comment phase for IR runs to Jan 21

Osaka online public comment phase for IR runs to Jan 21

Dec 23, 2021 Newsdesk Japan, Latest News, Top of the deck

Japan’s Osaka prefecture launched on Thursday a period for comments from the public submitted via the Internet, on its draft District Development Plan involving an integrated resort (IR). The online-comment phase runs until January 21 next year.

Osaka’s draft plan regarding a casino resort in that metropolis (pictured) has set the target opening date for such a facility as either the autumn or winter of 2029.

The local authorities also announced plans to hold briefing sessions for residents between January 7 and February 14, while formal public consultation hearings on the topic would run from January 23 to January 29, according to GGRAsia’s Japan correspondent.

The Osaka government plans to submit the final draft of its District Development Plan to the prefectural assembly and the city assembly between February and March next year. It would then submit in April its proposal to the national government.

Osaka’s draft document confirmed that United States-based casino group MGM Resorts International and its main consortium partner Orix Corp would each have a 40 percent equity stake in the scheme. About 20 Osaka firms – including railway operators Kintetsu Group Holdings Co Ltd, and Hankyu-Hanshin Holdings Inc – would hold a combined 20 percent stake.

The initial investment amount for the complex was confirmed at JPY1.08 trillion, i.e., about US$9.5 billion. According to the draft plan, the business licence would be valid for 35 years, with the possibility of being extended for a further 30 years.

The document states that the casino could have an aggregate of 470 table games and 6,400 electronic gaming machines.

The Japanese government opened on October 1 the application period for local authorities to pitch as host for a casino resort in that nation, and announced the weighting it will give when scoring such requests. The application period runs until April 28 next year.

Under the liberalisation programme, up to three resorts will be permitted nationally in a first phase. Currently, only three local communities are in the running for hosting a large-scale IR. They are: Osaka, Nagasaki, and Wakayama.