Osaka IR plans face scrutiny in public hearing on environmental report

A review of the results of the hearing will be conducted by the entity that is to develop the IR, and it will decide if additional research is required.

Japan.- On Saturday (January 6), Osaka city authorities in Japan organized a public hearing regarding the draft environmental assessment report by Osaka IR KK, the entity that will develop an integrated resort (IR) with a casino on Yumeshima island. 

Osaka IR KK is a joint venture between MGM Resorts International, Japan’s Orix Corp, and several other Japanese entities as smaller-scale investors. 

According to GGRAsia, during the hearing, 12 members of the public spoke, some of whom were from anti-casino groups. Osaka IR KK will consider the results of the hearing and determine whether additional research is necessary. The final assessment report is scheduled to be released this summer.

On October 27 of last year, Osaka city made the draft environmental report public. The report concluded that “the targets of environment conservation have been satisfied in all the items and aspects.” 

Last December, work began at the site to guard against the risk of soil liquefaction and to deal with other land issues, according to an announcement by the Osaka city and prefectural authorities.

The IR is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. It will also include hotels, shopping areas, convention areas and facilities. 

About 20 million people a year are expected to visit, including 6 million visitors from abroad, generating sales of JPY520bn annually, with JPY420bn coming from gambling revenue.

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

Last September, Osaka authorities stated that the initial investment cost of JPY1.08tn (US$7.48bn) for MGM Osaka would rise by JPY190bn.