Authorities in Osaka have approved the proposal for the city’s integrated resort bid.
Japan.- The Osaka Prefectural Government has given approval for the city to apply to host an integrated resort (IR). The decision was taken at the closing plenary meeting of the current session of the General Assembly today (Thursday).
The prefecture’s operator partner, the MGM-Orix consortium has proposed to invest JPY1tn (US$9.1bn) in the planned IR. The proposed site is an artificial island: Dream Island, in Osaka Bay. The project has a target date of opening in 2029.
According to the plan, the city will need to assume costs of approximately JPY79bn (US$692m) for soil improvement measures, including site purification and soil liquefaction control measures. The Osaka City Council has yet to approve the IR district development plan. Its’s expected to hold the last plenary meeting of its regular session on March 29.
In February, authorities refused to call for a public referendum on whether or not to allow proposals for an integrated resort in the city. The request for a referendum was made by the Liberal Democratic Party (LDP), but 58 of the 83-seat council voted against the draft ordinance.
April 28 is the deadline for local governments to submit casino resort proposals to state authorities. Currently, only three cities are expected to bid for licences: Nagasaki, Osaka and Wakayama. That means all three could win licences.