Osaka may need to downsize IR investment plans

Ken Furuichi, the Managing Director of Kansai Association of Corporate Executives, says a reassessment may be required.

Japan.- Investment plans for an integrated resort (IR) in Osaka may need to be altered to adjust for the financial impact of Covid-19.

That’s according to Ken Furuichi, the Managing Director of Kansai Association of Corporate Executives, who told the Mainichi Shimbun that the pandemic may change the world forever with governments and businesses needing to adjust for turbulent finances.

He said: “In a post-Coronavirus world, we will have to reassess things to see if they can be realised in their current form.”

MGM Resorts is currently the sole-bidder for Osaka’s IR, with acting CEO William Hornbuckle confirming earlier in May that its bid is still on the agenda.

Osaka, and indeed the rest of Japan, is readjusting to normal life, with state of emergency orders lifted in prefectures earlier this week.