MGM Osaka IR construction begins
Construction is expected to finish in the summer of 2030.
Japan.- Yesterday (April 24) saw the groundbreaking ceremony for MGM Osaka, Japan’s first integrated resort with a casino. The event organised by Osaka IR KK was attended by Hirofumi Yoshimura, the governor of Osaka, along with representatives from MGM Resorts International and Japan’s Orix Corp, the main partners in the project, and from smaller-scale Japanese investors.
The IR will be built on Yumeshima, an artificial island in Osaka Bay in the Kansai region. It is expected to cost JPY1.27tn (US$ 8.9bn) and is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. Construction is expected to finish in the summer of 2030, and operations are slated to commence by autumn that year.
MGM Osaka will feature a hotel with around 2,500 rooms. It will also include about 400,000 square feet of conference facilities, 330,000 square feet of exhibition space and a theatre with around 3,500 seats.
To lessen the impact of construction on Expo 2025, which is taking place on Yumeshima until October 13 this year, construction work will be reduced on days when many visitors are expected, and the use of heavy machinery will be put back until after the Expo ends.
Wakayama governor still interested in hosting Japanese casino IR
Wakayama governor Shuhei Kishimoto has said that the prefecture would consider bidding to host an integrated resort (IR) with a casino if Japan opens a new round of applications.
Wakayama was initially one of the bidders for Japan’s first round of casino licences but it withdrew its proposal after the prefectural assembly voted against the area development plan in 2022. While the national government has yet to announce a second round of applications, Kishimoto said the prefectural government is gathering information on potential opportunities.
In November, the Japan Tourism Agency sent a questionnaire to the prefecture to sound out its interest in future IR proposals. Nagasaki prefecture, which submitted a bid during the first round of bids but did not receive approval, also received one.
