Asia

Osaka City Council Offers Nod for IR Bid

Published

3 years ago

March 31, 2022

Reading Time: < 1 minute

A week after the Osaka voted in favour of its IR district development plan, The Osaka City Council has approved the plans to develop IR district regional development plan, following the passing of the plan in the prefectural council a week earlier.

In the plenary meeting, Osaka Restoration and Komeito members, which together have 58 out of 83 seats, voted in favour, while the Liberal Democratic Party voted against it.

The Liberal Democratic Party voiced their concerns too about the additional cost of ground survey work on the artificial island in Osaka Bay, which is estimated to cost Osaka authorities an additional cost of US$638.1m.

The operator partner of the IR plan, the MGM-Orix consortium, has proposed to invest US$9.1bn in the project, which is scheduled to start in 2029.

April 28 is the deadline for local governments to submit casino resort proposals to state authorities. As of now, only three cities are likely to submit bids: Nagasaki, Osaka and Wakayama.

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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.