MGM Osaka
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on 5 September, it was learned that the completion date had been pushed back by nearly a year from late 2029 to the fall of 2030. This is leading some to wonder if more delays won’t be on the horizon in the years leading up to the proposed opening.
On the same day, Osaka Prefecture and Osaka City announced the completion of a draft agreement covering the construction, operation, and other arrangements for the resort. When the agreement is approved by the national government and formalized, the operators will receive Japan’s first-ever casino licenses.

Nevertheless, developers are wasting no time and plan to begin the groundwork this fall, while the Expo facilities on the island are also still being constructed. The resort facilities will begin construction in the spring of 2025, just as the Expo is getting underway. If all goes according to plan, the integrated resort will be finished in 2030 and mainly run by the Japanese arm of MGM Resorts International and Japanese conglomerate Orix.

Source: https://soranews24.com/2023/09/09/japans-first-casino-resort-pushed-back-to-2030/

MGM Resorts is looking to begin construction for its integrated resort in Osaka, Japan by middle to late next year, MGM President and CEO Bill Hornbuckle has revealed. The announcement comes after the company signed a licensing agreement with Marriott International last week, expected to draw high-end travelers to its Las Vegas' operations.

In an interview with Las Vegas Review-Journal, Hornbuckle said that the group expects to sign the implementation agreement for its casino resort in Osaka in autumn. Speaking to the publication, he said: “It’s early in the game, but for us, it’s been a 12-year journey. We’re looking forward to signing our area development plan this fall and starting in earnest on the ground, hopefully, by middle to late next year in terms of pylons and beginning construction. We’re shooting for a 2030 opening.”

He further confirmed that the property would be on reclaimed land, the Yumeshima Island, which was “originally built to compete for the ’72 Olympics, and it’s been sitting there since.” Hornbuckle noted that the site is slated to house the World Expo in 2025, "so a lot of the infrastructure and some of the other things we need for tourism will be brought to bear."

Source: https://www.yogonet.com/international/news/2023/07/24/68023-mgm-looking-to-begin-construction-of-japan-39s-first-casino-in-2024-says-ceo-bill-hornbuckle

The Kishida administration has decided to approve a license to build Japan’s first major casino resort in Osaka, aiming for a grand opening in 2029.
“The Integrated Resort will attract many tourists and have an economic impact,” Prime Minister Fumio Kishida said today. “It’s an important initiative for promoting ourselves as a tourism-oriented country.”

The official decision is expected to be announced tomorrow after a meeting with related government ministers.

Source: https://akihabaranews.com/osaka-casino-resort-headed-for-approval/

The government is set to approve a plan by Osaka Prefecture and city to open what will be Japan's first casino resort in 2029, government sources said Wednesday.
The development comes as movement restrictions introduced during the coronavirus pandemic are removed, leading some local governments to reassess the idea of attracting tourists to a so-called integrated resort, or IR, comprised of a large hotel, conference rooms and gambling areas.

Source: https://english.kyodonews.net/news/2023/04/274d3fbadf39-govt-to-approve-plan-for-japans-1st-casino-resort-in-osaka.html

Osaka’s prefectural and city authorities have allotted US$4.5m in the budget for the forthcoming fiscal year to their joint pursuit of an integrated resort (IR) with a casino. This represents a 6.4% decrease from financial year 2022.
The Osaka IR promotion bureau will receive the budget allocation, with JPY115m intended for “political measures” and the remaining funds for personnel expenses. MGM Resorts International is part of a consortium with ORIX that was selected as Osaka’s IR partner for its bid to host an IR. MGM-Orix has proposed to invest US$8.38bn.

Source: https://europeangaming.eu/portal/latest-news/2023/02/20/130421/osaka-assigns-us4-5m-to-ir-development-in-2023-budget/

MGM Resorts International’s capital contribution to the widely anticipated casino-resort project in Osaka, Japan is expected to be $2 billion to $2.5 billion, according to S&P Global Ratings.

The ratings agency said MGM’s stake in the project is unlikely to exceed 50%, and that the most likely breakdown is 40% apiece for the casino operator and partner Orix, with the remaining 20% controlled by local investors. That echoes sentiment from the gaming company that it won’t hold a majority in the Japan venue.

Source: https://www.casino.org/news/mgm-could-spend-up-to-2-5-billion-on-osaka-casino/

Potential delays on Integrated Resorts in Japan.

Both Nagasaki and Osaka have been vying for the opportunity to secure the rights to host Japan’s first integrated resort, or failing that, have the opportunity to develop the one after that. A total of three integrated resorts are planned for Japan, which should transform Asian land-based gambling at a time when Macau is divesting from gambling and looking to boost its tourism industry elsewhere.

But Osaka and Nagasaki are understandably growing impatient with prefectures originally expecting a ruling at the beginning of the autumn, which is now passed. Both prefectures are also hoping that they can start construction right away, and hopefully in the spring of 2023. The integrated resort decision has been delayed multiple times already, with the final construction date possibly pushed back beyond 2025-2026.

Source: https://www.gamblingnews.com/news/integrated-resorts-decision-in-japan-likely-not-coming-until-2023/

Noboyuki Baba, an Osaka MP from the Japan Innovation Party, urged the government to approve the plan for the IR including a casino in Osaka by the end of the year, according to a report released by GGR Asia. Earlier this week, Baba participated in a debate with the House of Representatives, Japan’s lower chamber of parliament. He acknowledged that Osaka city and prefecture are still waiting for approval for the development of the IR. Moreover, Baba asked the lawmakers to take the decision no later than the end of the year so the project could gain further traction.

Responding to Baba’s queries, Japan’s Minister of Land, Infrastructure, Transport and Tourism, Tetsuo Saito, said that the review of the IR proposal is ongoing. At the same time, he reiterated that the government remains committed to the IR policy which is identified as “one of the major policies to be a tourism-driven country.” Saito stressed that the government’s view on this topic hasn’t changed. Still, the minister reiterated that the IR project in Osaka is being reviewed but did not provide a solid timeframe for when the process will be completed.

Source: https://www.gamblingnews.com/news/mp-urges-government-to-approve-osaka-integrated-resort-proposal/

An integrated casino resort in Japan proposed by MGM Resorts would generate $1.5bn annually in tax revenue. If the plan for Osaka is approved, said MGM CEO Ed Bowers, then the venue would out-perform any other IR in Asia in terms of revenue.

Bowers was addressing the G2E Asia Special Edition in Singapore, reports Inside Asian Gaming. He told a conference session that the plan, if approved by the country’s central government, would become a major financial boost for the Kansai region.

“It will be the most expensive IR ever built in Asia,” said Bowers, “and will employ around 1,500 people.” A decision on the competing bids for a casino in Osaka is expected to be announced as early as next month.

Source: https://www.intergameonline.com/casino/news/osaka-ir-would-generated-15bn-taxes

After the submission of a petition with 192,773 signatures, the request for a referendum was denied. Osaka Governor Hirofumi Yoshimura submitted the petition on 21 July. Osaka Ishin (Initiatives from Osaka) Party, the Komeito (Clean Government Party), and the LDP (Liberal Democratic Party) were responsible for the rejection of the petition.

"The area development plan stipulates the Osaka IR will open on the reclaimed Yumeshima in 2029." Annual economic ripple effects are a significant concern for citizens.


https://www.asgam.com/index.php/2022/08/03/osakas-prefectural-assembly-rejects-ir-referendum/