{"id":34571,"date":"2022-10-19T09:21:31","date_gmt":"2022-10-19T12:21:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34571"},"modified":"2026-04-23T03:48:15","modified_gmt":"2026-04-23T06:48:15","slug":"osaka-seeks-to-avoid-delay-in-ir-approval","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/osaka-seeks-to-avoid-delay-in-ir-approval","title":{"rendered":"Osaka seeks to avoid delay in IR approval"},"content":{"rendered":"\n

Taku Ikeshita, an MP from the Japan Innovation Party, has pushed the government to avoid delaying a decision beyond March.<\/p>\n\n\n\n\n\n\n\n

Japan.- There’s been no news on the Japanese government’s review of bids<\/strong> to host integrated resorts, and bidders are starting to fear plans could face significant delays. Taku Ikeshita<\/strong>, a deputy from the Japan Innovation Party, now believes the government is unlikely to approve Osaka’s IR project before the end of the year.<\/p>\n\n\n\n

During a parliamentary question-and-answer session with prime minister Fumio Kishida<\/strong>, Ikeshita called for the approval not to be delayed beyond March 2023, warning that this could delay Osaka’s planned IR timetable by between one and three years.<\/p>\n\n\n\n

Fumio Kishida didn’t comment on the timetable but said the government was following procedures<\/strong>. He stressed the government’s commitment to IRs to boost tourism.<\/p>\n\n\n\n

Even if the IR development plan is approved, there are many processes to be completed<\/strong> in addition to the physical construction of the resort, which is expected to take several years. Japan’s Casino Regulatory Commission will have to conduct audits of casino companies and other firms to determine if they qualify for casino licences.<\/p>\n\n\n\n

Osaka<\/a> has selected MGM-Orix as its partner for its IR bid. The consortium proposes to invest JPY1tn (US$9.1bn) and include three hotels<\/strong> providing approximately 2,500 rooms, a MICE facility measuring 68,000 square meters, a 3,500-seat theatre and various Japanese cultural experiences and retail facilities. It would employ about 15,000 people.<\/p>\n\n\n\n

The Ministry of Land, Infrastructure, Transport and Tourism a panel of experts are currently evaluating bids from Osaka and Nagasaki<\/a>.<\/p>\n\n\n\n

The expert panel, established in July 2021, consists of seven academic professors, each covering a different subject area. Also on the body is a doctor, who is said to have specialized knowledge of gambling addiction.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taku Ikeshita, an MP from the Japan Innovation Party, has pushed the government to avoid delaying a decision beyond March.<\/p>\n","protected":false},"author":176,"featured_media":20442,"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 Japanese government's review of Integrated Resort (IR) bids, particularly for Osaka and Nagasaki, faces potential delays beyond March 2023, which could postpone Osaka's project by 1-3 years. Despite Prime Minister Kishida's commitment to IRs for tourism, the lack of a decision is causing concern among bidders like MGM-Orix, which proposes a JPY1tn investment for Osaka.","focusai_entities":"Taku Ikeshita, Japan Innovation Party, Fumio Kishida, MGM-Orix, Japan\u2019s Casino Regulatory Commission, Ministry of Land, Infrastructure, Transport and Tourism","focusai_location":"Japan, Osaka, Nagasaki","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Impact","query":"What specific regulatory or political hurdles are contributing to the protracted review period for Japan's IR bids, and how might these influence future governance frameworks for integrated resorts?"},{"label":"Investment Outlook","query":"How do these projected delays in IR approval impact the financial models and capital deployment strategies for consortiums like MGM-Orix, and what are the broader implications for investor confidence in Japan's gaming vertical?"}],"footnotes":""},"categories":[157,16338],"tags":[23632],"class_list":["post-34571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34571","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=34571"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34571\/revisions"}],"predecessor-version":[{"id":34594,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34571\/revisions\/34594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20442"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}