Work to guard against the risk of soil liquefaction and to deal with other land issues at the site of the planned MGM Osaka casino resort in Japan began on Monday, according to an announcement by the Osaka city and prefectural authorities.
The work on the site for the integrated resort (IR) is being done by contractors Takenaka Corp and Obayashi Corp, on behalf of Osaka IR KK, a venture involving U.S.-based casino operator MGM Resorts International, Japan’s Orix Corp, and other smaller investors.
A project implementation agreement between the Osaka authorities and Osaka IR KK, signed on September 28, states that after ground preparations for the site at Yumeshima, an artificial island in Osaka Bay (pictured in a file photo), the construction-preparation effort should begin around summer 2024.
The ground measures include not only liquefaction countermeasures, but also dealing with underground obstacles and soil contamination.
In early September the Osaka authorities said it would be “autumn 2030” at the earliest before a resort could open, and that the initial investment cost of JPY1.08 trillion (US$7.34 billion currently) would rise by JPY190 billion.
Under the implementation agreement, the city government will reimburse Osaka IR KK for the soil preparation work, on condition that the implementation agreement remains in effect.
Osaka city has secured a maximum JPY78.8 billion in funding for fixing the land issues including soft-ground, underground-obstacle and soil-contamination matters. From that, JPY41.0 billion is for stabilising the soft ground.
On September 19, Osaka prefecture and city announced that a meeting of relevant experts convened by the authorities, estimated the cost of remedial measures for the land could be as low as JPY25.5 billion.
Feb 21, 2024The Genting group-run Resorts World New York City gaming complex (pictured), in Queens, has in 2023 “reclaimed its position” in the United States “as the highest grossing commercial property...
Gaming revenue grossed by the U.S. commercial land-based gaming industry in 2023, according to data by the American Gaming Association