For several years, Japan has been trying to bring Integrated Casinos (IC) to the country to help boost its economy. This began in 2018 when a new law was made that would allow the development of up to three IR. Unfortunately, getting the final approval for these IR have been very difficult. After months of waiting, Japan is Ready to Approve its first Casino Resort and expect a decision soon.
According to online casino websites, Japanese policy makers are ready to sign-off on the development of a casino-resort in Osaka. Furthermore, Prime Minister Fumio Kishida and relevant ministers are planning to endorse the Osaka IR plan.
In addition, insider sources believe the decision could be made as soon as this Friday. If the Japanese minister give their approval, this will mark an important milestone for the Japanese gaming industry.
Japan is Ready to Approve its first Casino Resort in Osaka
No matter which country you are talking about, casino resorts are a proven economic stimulus to any country. Furthermore, they help drive tourism growth and provide jobs to the local market. In fact, many countries like South Korea, Macau and the Philippines have built such resorts for this reason with success.
While some countries use online casinos to help bolster the economy, having a casino resort is more effective. At least, it is in bolstering the regional economy as it provides in-person job that help increase the local economy. For example, a resort will have a live dealer casino, hotel employees, restaurants, shops and more. All of these will require workers which will mostly come from local workers. Thus, economists agree that Osaka will surely benefit from having a casino resort.
Gambling analysts expect that the first resort will be a joint venture with MGM Resorts International and Japan’s Orix. This is because 2 years ago, MGM and Orix were chosen the Osaka prefecture to operate an IC. However, due to the Japanese government moving very slowly, nothing has been happening until now.
As to MGM, patience has truly been a virtue that will pay off. Especially since the majority of global gaming companies are looking towards Japan and the Asia-Pacific region. Of course, before they can begin profiting from it, MGM expect to spend around $2.5 billion on the resort. If all goes well, the first Casino Resort in Osaka could be ready by 2029.
Bet on Sports for Real Money with the VOBET Casino and Sportsbook
Read more Gambling Industry News