Japan Moves Ahead With MGM Casino In Osaka$10 Billion "Integrated Resort" Receives Certification |
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The country of Japan announced the approval of a plan for its first casino in the city of Osaka. Las Vegas-based MGM Resorts will be involved with bringing a multi-billion-dollar casino resort to the nation.
Casino gambling was legalized in Japan in 2018, but the process of bringing casinos to the island nation has been slow. The Covid-19 pandemic played a role in delays. It’s expected that around 20 million people will visit the casino resort on an annual basis.
Japan’s Ministry of Land, Infrastructure, Transport and Tourism certified the Area Development Plan submitted last year by Osaka Prefecture/City and Osaka IR KK, a joint venture between MGM Resorts Japan and ORIX Corporation. MGM will own about 40% of the project.
The certification is one of the final steps in the licensing process under Japan’s Integrated Resort Development Act. It paves the way for MGM Resorts Japan and ORIX to finalize agreements with Osaka Prefecture/City on constructing a new $10 billion development project.
“It is an honor to be selected by the Government of Japan to develop a tourism project of this scale,” said MGM Resorts CEO & President Bill Hornbuckle. “We couldn’t be more excited to start developing one of Japan’s first Integrated Resorts in the great City of Osaka, and we look forward to working with our partner ORIX and Osaka Prefecture/City to realize this long-held goal.”
Details of the proposed development in Osaka were unveiled last year as part of the licensing submission process. MGM said it is looking to bring a world-class resort experience to Osaka.
“The proposed development is designed to transform the region into one of the world’s top entertainment and hospitality destinations and to serve as a hub for tourism across Japan,” MGM said.
MGM and ORIX, together with Osaka Prefecture/City, submitted an Area Development Plan to the Government of Japan during the October 2021 to April 2022 application period.
In addition to the Osaka project, the city of Nagasaki is expected to see a casino. Those are the only two cities currently slated for a casino. Casinos Austria International is behind the Nagasaki casino plan.
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