Osaka prefectural assembly nods IR plan

Mar 24, 2022 Newsdesk Japan, Latest News, Top of the deck  

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Japan’s Osaka prefectural assembly has given its approval for the local government to advance with the process to apply to the national authorities for the right to host an integrated resort (IR) in that Japanese community. The decision was made on Thursday, at the final plenary meeting of the current session of the assembly.

Members from the Osaka Restoration, Komeito and Liberal Democratic Party – parties that take 75 of the 84-seat chamber – were amongst those that voted in favour of the prefecture’s “IR District Development Plan”, according to the information collated by GGRAsia’s Japan correspondent.

The consortium for an Osaka gaming resort tilt is led by United States-based casino operator MGM Resorts International and Japan’s Orix Corp. The initial investment amount for the resort complex (pictured in a rendering) has been stated at JPY1.08 trillion (US$9.1 billion), with a target date of 2029 for opening it.

On February 16, the governments respectively of Japan’s Osaka prefecture and Osaka city reached what they termed a ‘Basic Agreement’ with the MGM-Orix consortium on an IR.

Osaka’s City Council is yet to approve the IR District Development Plan. The council is scheduled to have the final plenary meeting of its regular session on March 29.

April 28 is the deadline for local governments to make a submission to the national authorities on a tilt for a casino resort. Up to three such facilities will be permitted across the country, under the liberalisation plan. The other contenders currently, are Wakayama and Nagasaki.

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