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| Yoshimura said at a press conference that the prefecture and the city will aim to create a "world's best growth-oriented integrated resort," adding that the planned investment amount for the Osaka resort plan is "very ambitious and aggressive." (Photo by= MGM Resorts Japan) |
[Asia News = Reporter Reakkana] OSAKA: Gov. Hirofumi Yoshimura revealed on Tuesday that Osaka Prefecture and Osaka city will partner with MGM Resorts International and Orix Corp. in bidding to construct a casino resort under Japan's liberalized gambling laws, Kyodo reported.
The consortium of the U.S. resort operator and the Japanese financial services company is planning an initial investment of about 1.08 trillion yen ($9.7 billion) to open a casino complex in Osaka Bay in the late 2020s if selected as one of three integrated resort locations where the Japanese government plans to grant permits. The prefecture and the city plan to apply for hosting a casino resort next spring after gaining approval at their assemblies. The consortium was the only bidder for the Osaka project. It is hoped that the planned world-class hotel and facilities will help promote tourism in the Kansai region in western Japan.
Global casino operators have been looking to Japan for expansion opportunities ever since the government legalized casinos in 2018 to boost tourism. Japan postponed plans to accept formal applications from municipalities vying to host so-called integrated resorts due to the impact of the coronavirus pandemic. Osaka Prefecture sees the Marina Bay Sands casino resort, established in Singapore with an investment of 500 billion yen, as a potential major competitor.
