Osaka Prefectural Assembly approves IR area development plan
Friday 25 de March 2022 / 06:43
⏱ 1 min read
(Japan).- The Osaka Prefectural Assembly has approved an IR area development plan for an integrated resort development on Osaka’s Yumeshima Island, with the majority of Osaka Ishin, Komeito and LDP voting in favor.
There will be now be a vote at the Osaka City Council on 29 March, where it is also expected
to pass, after which the proposal will be submitted to the national government by the 28 April 2022 deadline.
Osaka’s IR proposal is in partnership with a consortium headed by MGM Resorts and ORIX Corp and includes a goal of breaking ground in 2023 before opening the property in the autumn of 2029.
The planned total floor area is 770,000 square meters with an estimated economic ripple effect in the surrounding Kansai region of JPY 1.58 trillion (US$13.7 billion) during construction and estimated annual sales of JPY 540 billion (US$4.7 billion).
Osaka’s ambition is to develop a metropolitan IR. The designated location is a 490,000 square meter plot on the north side of Yumeshima, a manmade island in Osaka Bay.
Alongside MGM and ORIX, at least 20 other corporations are planning to invest in the IR. They include super general contractors such as Obayashi Corporation, Takanawa Corporation and Taisei Corporation plus other major players such as Kansai Electric Power, Osaka Gas, Panasonic, Kintetsu Group Holdings, West Japan Railway Company, NTT West Corporation and JTB, among others.
MGM previously announced that development costs are expected to reach JPY 1.08 trillion (US$9.4 billion). Of this, JPY 530 billion (US$4.6 billion) will be investment by related corporations while the remaining JPY 550 billion (US$4.8 billion) will be financed.
Categoría:Casino
Tags: Sin tags
País: Japan
Event
PERU GAMING SHOW – PGS 2026
17 de June 2026
Enhancing Responsible Gaming Through Effective Training at PGS 2026
(Lima, SoloAzar Exclusive) – Training, prevention, and technology took center stage at the "Value of Responsible Gaming in Gambling Operations" conference during the 2026 Perú Gaming Show (PGS). Presented by Fernando Calderón Castro, President of the National Gaming Society (SONAJA), the session brought industry leaders together to tackle current challenges and explore strategies for safer, more transparent, and sustainable operations.
Wednesday 22 Jul 2026 / 12:00
LSports at the Peru Gaming Show: Building Presence, Opening Doors
(Lima, SoloAzar Exclusive).- The Peru Gaming Show was never just about the booth. For LSports, it was about showing up in a market where showing up still matters — and leaving with more than a contact list. Federico Brancato, Sales Manager for the LATAM Region, came to Lima with a clear sense of what operators in this part of Latin America need most right now. What he found confirmed it.
Friday 17 Jul 2026 / 12:00
Martin Ivanov: "Latin America remains one of CT Interactive's key strategic regions"
(Lima, SoloAzar Exclusive).- CT Interactive Chief Operating Officer Martin Ivanov reflects on the company's experience at the Peru Gaming Show, highlights the opportunities emerging in the Peruvian market, and outlines the company's strategic priorities for expanding across Latin America.
Thursday 16 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
