Japan’s national government has confirmed that the development of MGM Osaka’s integrated resort (IR) with a casino is moving forward, with both the project’s developer and local authorities working hard to meet regulatory requirements.
According to a statement from the Japan Tourism Agency, under the Ministry of Land, Infrastructure, Transport and Tourism, the MGM Osaka team and the Osaka prefectural and city governments are “working vigorously” on the project. The agency, which oversees the implementation of Japan’s IR policy, cited an official report evaluating the status of the Osaka IR District Development Plan for the financial year 2024.
For the unaware, MGM Osaka is being developed by MGM Osaka Corp, a venture involving United States-based MGM Resorts International, Japan’s Orix Corp, and several minority domestic investors. The project is set to be the country’s first fully approved and under-construction IR. The project, situated on Yumeshima, an artificial island in Osaka Bay, is valued at JPY 1.27 trillion (€7.9 billion) and is expected to be completed by summer 2030.
The government report noted that the detailed design of the IR construction is nearly finished and that all aspects of the project comply with the requirements set by the ministry. Under Japan’s IR Act, the Ministry of Land, Infrastructure, Transport, and Tourism is required to conduct annual evaluations of the implementation status of all approved IR projects to ensure adherence to legal and regulatory standards.
New IR bid opening in Yokosuka
Alongside the progress at MGM Osaka, Japan is preparing for its next round of IR licencing, with Yokosuka in Kanagawa prefecture emerging as a potential site for a future integrated resort. Located about 50 kilometres south of the National Capital Tokyo, Yokosuka hosts one of the world’s largest US naval bases and benefits from its proximity to the capital and existing infrastructure, making it a strong contender.
Japan’s integrated resort framework, established under the 2018 law, allows for a maximum of three casino resorts. Having awarded the first licence to MGM Osaka, the government is reportedly preparing to reopen bidding on the remaining two licences. Alongside Yokosuka, other regions, including Hokkaido and Yokohama, have expressed interest.
Japanese IRs are designed to combine casino facilities with convention, exhibition, and recreational amenities, reflecting the government’s broader objectives to boost tourism and economic growth. And so, experts believe Yokosuka could be more appealing than Yumeshima Island. The city hosts research-intensive and technologically advanced sectors, such as the Yokosuka Research Park, which could complement the IR’s multi-functional role as a hub for tourism, business, and recreation.
Plans to bring IRs online ASAP
The renewed interest in IR development comes after a period of delays caused by economic uncertainty, regulatory fine-tuning, and the impact of the COVID-19 pandemic. Observers say that the combination of ongoing progress at MGM Osaka and preparation for the next licencing round reflects a serious commitment by both developers and government authorities to expand Japan’s IR sector.
Though no specific mention has been made of opening dates ahead of the official deadline, the vigorous movement on the project indicates the seriousness of efforts to bring MGM Osaka online as soon as possible.
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AloJapan.com