Osaka the Japanese port city privatises its metro system

Osaka, the Japanese port city and commercial centre renowned for its modern architecture, nightlife and hearty street food has privatised its metro system in order to bet for a future integrated resort. The representatives of the city disclosed that the undertaking to privatise the metro system has already come into force. The financial experts said that the latest initiative of the government intends to prepare the city to host the upcoming integrated resort, which comprises a casino under the Japanese legislation.

An official statement revealed that the complete privatisation of the city’s Osaka Municipal Subway would be over by April this year. The new transportation system will get the name “Osaka Metro” and it will enhance the city’s proposal in favour of the installation of integrated resorts in the region, following national’s gaming legalisation.

The casino industry in Japan has been put on hold since national legislators have postponed debates related to further regulations to activate the approved gaming legislation. The general bill on casinos cannot take effect until the Congress passes all regulations as to gambling prevention, license process, gaming taxes, among other things.

Osaka will present casino projects to bid for the gaming license, whilst authorities have already introduced a proposal to host the World Expo 2025 in conjunction with the IR plans for the development vision for Yumeshima. City governments of Osaka and the prefectural revealed the “Interim Framework Plan” to build an integrated resort at Yumeshima. The plan emphasises that the integrated resort that would open in 2023 or 2024 would use high technology.