Asia

Japanese Government Approves Osaka Plan

Published

2 years ago

April 17, 2023

Niji Narayan

Reading Time: < 1 minute

The Japanese government has approved the nation’s first integrated resort plan, equipped with a casino – to be located in Osaka.

An expert panel selected to evaluate the proposal from Osaka City and the prefectural governments found the application to have met all requirements.

The Osaka IR is set to be developed by a consortium between MGM Resorts International and ORIX-Corp, costing an estimated $9bn and expected to open in 2029. It is expected to include a casino, conference centre, hotel, theatre and exhibition hall.

Osaka also beat out the only other remaining city hoping for an IR, Nagasaki, which is expected to have its process delayed by several months.

The Osaka resort is set to be developed on Yumeshima Island and attract around 20 million guests and $3.9bn in revenue yearly, with domestic tourism to account for up to 70% of visitation in the years following the opening.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.