Osaka IR plan just passed threshold for approval, government says

Osaka’s casino resort proposal was very close to the central government’s threshold for approval.

Japan.- The Japan Tourism Agency has revealed that Osaka’s casino integrated resort proposal very narrowly passed the test for approval. The proposal, which was approved to become Japan’s first casino resort last week, scored 657.9 out of a possible 1,000 points, just above the 600-point threshold for acceptance.

However, the Osaka IR District Development Plan met all 19 of the required criteria set by the Japan Tourism Agency and the country’s Ministry of Land, Infrastructure, Transport and Tourism and the 25 evaluation criteria, whch were rated by an examination committee, consisting of six university professors and one medical doctor specialising in addiction.

The project is expected to cost JPY1.08tn (US$8.38bn) and is backed by a consortium that includes MGM Resorts International and Orix. The Osaka resort, to be located on the Yumeshima artificial island in Osaka Bay, will feature hotels, shops, an international convention centre and a casino. It’s expected to open in 2029.

MGM Resorts chief executive and president Bill Hornbuckle expressed his excitement at the prospect of developing “one of Japan’s first integrated resorts in the great City of Osaka.”

MGM Resorts and its partners must now finalise details, such as construction timelines and opening schedules before signing an implementation agreement with local authorities.

Osaka’s plan was one of two IR proposals submitted to the national authorities in April of last year. The other proposal, for a casino resort on land adjacent to the Huis Ten Bosch theme park at Sasebo City, Nagasaki, is still being assessed by the Japanese government.