The Osaka Prefectural Government signed a casino resort deal with a developer. Also, they planned to open an integrated casino resort in the fall of 2030.
After the conclusion of the 2025 World Expo in Osaka, officials expect the so-called integrated resort will help stimulate the surrounding economy.
According to Korean sports betting experts, MGM Resorts International and Orix spearheaded the Osaka IR. MGM Resorts International is a casino powerhouse based in the United States. In addition, Orix is a Japanese financial services corporation. Both firms were signatories of the deal. Osaka IR plans to submit a licensing application to the national government to launch the country’s first legal casino.
New Casino Resort Deal Signed in Osaka
On Thursday, Osaka municipal officials and representatives from Osaka IR signed a leasehold contract for the Yumeshima artificial island in Osaka Bay.
In April 2022, the prefectural administration planned to open the casino resort in time for the fall or winter season 2029.
However, the proposal did not move forward until April of this year. According to sportsbook reviews and news sites, it came six months after prefectural authorities had hoped.
According to a gambling and sports forum, the developer would have to put in 1.27 trillion ($8.5 billion) more than expected at the project’s outset because of rising material costs. Annual income for the resort is estimated at 520 billion, with the casino contributing almost 80% of that total.
Under certain circumstances, including an initial investment exceeding 1.27 trillion, Osaka IR may withdraw from the partnership by the end of September 2026, as per the agreement reached on Thursday.
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