{"id":28368,"date":"2022-03-24T08:09:13","date_gmt":"2022-03-24T11:09:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28368"},"modified":"2026-04-23T10:14:28","modified_gmt":"2026-04-23T13:14:28","slug":"osaka-prefectural-assembly-approves-ir-plans","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/osaka-prefectural-assembly-approves-ir-plans","title":{"rendered":"Osaka prefectural assembly approves IR plans"},"content":{"rendered":"\n<p>Authorities in Osaka have approved the proposal for the city&#8217;s integrated resort bid.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>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).<\/p>\n\n\n\n<p>The prefecture\u2019s operator partner, the\u00a0<strong>MGM-Orix<\/strong>\u00a0consortium has proposed to invest\u00a0<strong>JPY1tn (US$9.1bn)<\/strong>\u00a0in 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.<\/p>\n\n\n\n<p>According to the plan,\u00a0the 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&#8217;s expected to hold the last plenary meeting of its regular session on March 29.<\/p>\n\n\n\n<p>In February, authorities\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/osaka-votes-against-allowing-ir-referendum\" target=\"_blank\">refused to call for a public referendum<\/a><strong>\u00a0<\/strong>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.\u00a0<\/p>\n\n\n\n<p>April 28 is the deadline for local governments to submit casino resort proposals to state authorities. Currently, only\u00a0<strong>three cities are expected to bid for licences:\u00a0<\/strong>Nagasaki, Osaka and Wakayama. That means all three could win licences.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities in Osaka have approved the proposal for the city&#8217;s integrated resort bid.<\/p>\n","protected":false},"author":176,"featured_media":16053,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Osaka Prefectural Government has approved the city's integrated resort (IR) bid, advancing the MGM-Orix consortium's JPY1tn (US$9.1bn) project on Dream Island with a 2029 target opening. While the Osaka City Council's final approval is pending, this decision positions Osaka as a strong contender for one of Japan's initial IR licenses, alongside Nagasaki and Wakayama, given the limited number of expected bids.","focusai_entities":"Osaka Prefectural Government, MGM-Orix consortium, Osaka City Council, Liberal Democratic Party (LDP)","focusai_location":"Osaka, Japan, Nagasaki, Wakayama","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Osaka IR Funding","query":"What specific financial mechanisms and guarantees are in place to cover the JPY79bn soil improvement costs, and how might this impact the consortium's overall capital structure and projected ROI?"},{"label":"Regulatory Hurdles","query":"What are the remaining regulatory and political hurdles, particularly concerning the Osaka City Council's approval and potential public sentiment, that could still impact the project's timeline or scope?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23632],"class_list":["post-28368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=28368"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28368\/revisions"}],"predecessor-version":[{"id":28401,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28368\/revisions\/28401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16053"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}