Japan’s Inaugural Casino Takes Shape as Construction Kicks Off

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In a monumental stride towards realizing a long-envisioned casino dream, Japan is poised to embark on constructing its inaugural integrated resort in Osaka. This landmark venture is a collaborative effort between the renowned international casino giant MGM Resorts International and Orix Corporation. Moreover, it has gained substantial traction following the Japanese government’s approval of a revised implementation agreement that eases gambling restrictions.

Osaka’s Integrated Resort Project Marks Historic Milestone

The turning point occurred in late September when Japanese gambling officials formally inked the agreement, propelling the project into its eagerly anticipated next phase, scheduled to commence in November. However, before the actual construction takes center stage, a pivotal preparatory step is currently underway—reinforcing the land to ensure it can adequately support the weight of the resort. 

This essential groundwork comes with an estimated price tag of $173 million, a financial burden shared by MGM and the financing companies involved. Fortunately, the local government has committed to reimbursing these costs upon the successful completion of the project, underscoring the collaborative nature of this venture.

Osaka’s Future Icon on Yumeshima Island

Perched on the expansive Yumeshima, an artificial island in Osaka Bay, the proposed 52-acre building carries a substantial development cost of 1.2 trillion Japanese Yen ($8.6 billion). The resort will be a formidable catalyst for tourism. Hence, its designs include three hotels affiliated with the country’s most prestigious hotel brands, collectively offering a grand total of 2,500 rooms for guests. 

Besides the luxurious accommodations, the region plans to enhance tourism appeal with a vast 730,000-square-foot convention space. It’s noteworthy that the casino and gaming machines slots, will occupy a modest 3% of the indoor area, ensuring a balance between gaming and diverse entertainment options.

According to local authorities closely monitoring the project, the integrated resort is expected to commence operations in the vibrant western city of Osaka in 2029. This timeline sets the stage for an eagerly awaited transformation in the region’s economic landscape, with the integrated resort poised to become a focal point for both domestic and international tourists seeking a unique and luxurious experience.

Overseen by the Osaka IR Corporation, the project’s significant stakeholders include MGM Resorts and Orix, each holding a 42.5% stake, while other prominent investors collectively share the remaining 57.5%. A pivotal 2018 law, strategically relaxing Japan’s stringent stance on gambling, initiated the genesis of this transformative project. As a result, it paved the way for tourism-centric ventures and the introduction of casino table games.

A Prosperous Future Awaits Osaka

The journey leading up to this historic moment had its share of challenges. Numerous companies in Japan faced formidable obstacles and delays due to prolonged legislative processes within their local and federal territories, leading to discontinued operations. However, MGM Resorts displayed commendable perseverance, and the tangible results of their steadfast efforts are now evident on the shores of Osaka. The Osaka IR Corporation’s decision to kick off construction has captivated local attention and ignited global interest.

This development has reverberated across international gaming circles, with Casinos Austria now setting its sights on Japan’s burgeoning tourism and entertainment potential. The renowned company is proposing a $3 billion resort in Nagasaki, further solidifying the transformative impact of integrated resorts on Japan’s tourism and entertainment industry. These projects can potentially reshape Japan’s gaming landscape and redefine the nation’s approach to leisure and entertainment.

Eva Carter has long experience as a content-writer within the casino niche and has published content for several English websites since 2010. At the moment, Carter is our Content Manager and has the responsibility for the publication of content on crypto-casinos.com

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