Osaka’s Integrated Resort Construction Gets Underway

The first casino in Japan is officially under construction, a huge step toward the achievement of a long-dreamed goal that would change Osaka’s cityscape. The driving factor behind this endeavor is the powerful partnership between MGM Resorts International and Orix Corporation, which came to fruition with the signing of a formal agreement in late September.

The first stage is to buttress the foundation, which is expected to cost $173 million, in order to guarantee the structural stability of the large 52-acre property on Yumeshima, an artificial island that is 700 acres in size in Osaka Bay. Although the property owners bear the financial burden of the preliminary works, the local government has committed to repay them at the end of the project.

The massive project consists of three hotels under different brands that together have 2,500 rooms. But the gaming area, which occupies only 3% of the resort’s internal space, is only one aspect of this complex wonder. With its expansive 730,000-square-foot conference area, the project is expected to boost local tourism and be completed in 2030, barring unforeseen delays.

Gaming Is Coming to Japan

Thanks to a 2018 legal amendment, the Osaka integrated resort unquestionably reflects a fundamental shift in Japan’s attitude toward gambling. This bold decision to loosen the country’s strict gambling laws created opportunities for international gaming conglomerates. MGM Resorts continues to move forward, looking forward to the world premiere of its masterpiece, despite the maze-like legislative process and setbacks brought on by the epidemic.

The strategic landscape is explained as follows: “The resort is de facto owned by the Osaka IR Corporation, in which MGM Resorts and Orix have a 42.5% stake each.” Diverse investors split up the remaining stock. This dual ownership structure represents a mutual dedication to this innovative endeavor’s success.

While Osaka IR Corporation is leading the integrated resort push, Casinos Austria is another participant hoping to make a name for itself in Japan’s rapidly expanding travel and entertainment industry. With its sights set on Nagasaki, Casinos Austria hopes to establish a $3 billion resort, demonstrating Japan’s considerable potential for the world’s gambling market.

MGM Resorts continues despite early disappointments and doubts, praising Osaka’s Integrated Resort as an example of tenacity and unflinching dedication. The Osaka project is a shining example of how Japan is transitioning into a vibrant center for international tourism and entertainment as it ushers in the gaming era.

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