Asia

Osaka Chooses Deloitte Touche Tohmatsu to Oversee IR Project

Published

2 years ago

June 29, 2023

Niji Narayan

Reading Time: < 1 minute

Osaka prefecture has chosen business consultancy Deloitte Touche Tohmatsu to provide support services for the monitoring of its integrated resort (IR) development consortium.

Deloitte will oversee financial, legal and technological aspects of the special-purpose company established by private investors for the construction of a casino complex on Yumeshima Island in Osaka Bay.

The consultancy’s responsibilities will cover the monitoring of the consortium’s business activities during the financial year 2023-24. The proposed fee is just over US$593,000, inclusive of consumption tax.

Osaka’s IR project is worth US$8.38bn and is backed by a consortium that includes MGM Resorts International and Orix. MGM holds 40% equity stake in the development, with Japan’s Orix Corp also having a 40% share. The remaining 20% is distributed among various Japanese investors.

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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.