Approval for Osaka casino resort plan anticipated in Japan

The IR District Development Plan for Osaka submitted in April 2022 marks the anticipated first approval for a casino in Japan.

Anticipated approval for Osaka’s integrated resorts (IR) plans is expected to be granted by Prime Minister Fumio Kishida and relevant ministers at a task force meeting scheduled for Friday, April 14. This significant milestone would mark the first approval for a casino resort in Japan.

Osaka, in partnership with MGM Resorts International and ORIX, has submitted a bid to host an integrated resort. The proposed investment from MGM-Orix is JPY1.08tn (US$8.38bn), with a target opening date set for 2029.

The comprehensive proposal entails the construction of three hotels, offering approximately 2,500 rooms in total. It also includes a substantial MICE (Meetings, Incentives, Conferences, and Exhibitions) facility, spanning 68,000 square meters, a grand 3,500-seat theater, as well as an array of Japanese cultural experiences and retail facilities. The project is estimated to generate employment opportunities for around 15,000 individuals.

The projected impact of the integrated resort is significant, with an expected annual influx of approximately 20 million visitors. This is forecasted to generate substantial economic benefits of JPY1.14tn (US$8.5bn) per year for the western Japan region, with Osaka prefecture at its center.