MGM-led consortium signs implementation agreement for Osaka IR

The IR is expected to generate JPY520bn in revenue annually.

09/29/23

Osaka’s IR project is scheduled to open in autumn 2030.

Japan.- The Osaka Prefectural Government has signed an agreement with a consortium that includes MGM Resorts International and Orix to develop an integrated resort (IR). The agreement outlines plans for the establishment of the IR, with operations slated to commence by autumn 2030.

This venture aims to compete with other major gaming destinations in Asia, including Macau, South Korea and Singapore. Authorities estimate it could attract 20 million visitors annually.

Originally, the prefectural government had envisaged the casino resort’s inauguration in the autumn or winter of 2029. However, there was a delay in a delay in getting approval from central government.

Osaka’s IR project is expected to cost JPY1.08tn (US$8.38bn) and is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. As part of Thursday’s agreement, Osaka IR can withdraw by September 2026, provided certain conditions are met, including an initial investment of more than JPY1.27tn.

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