{"id":777009578,"date":"2023-09-25T07:57:35","date_gmt":"2023-09-25T10:57:35","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777009578"},"modified":"2026-04-22T17:47:20","modified_gmt":"2026-04-22T20:47:20","slug":"japan-tourism-agency-approves-osaka-ir-implementation-plan","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/japan-tourism-agency-approves-osaka-ir-implementation-plan","title":{"rendered":"Japan Tourism Agency approves Osaka IR implementation plan"},"content":{"rendered":"\n

The plan has been approved by the Japan Tourism Agency, one of the bodies coordinating the IR approval process at the national level.<\/p>\n\n\n\n\n\n\n\n

Japan.- The Japan Tourism Agency, operating under the Ministry of Land, Infrastructure, Transport, and Tourism, has announced its approval of Osaka’s implementation plan for the development of an integrated resort (IR).<\/p>\n\n\n\n

The plan is to be signed between Osaka authorities and the private sector companies responsible for the IR’s development. Once signed, the agreement, referred to as the ‘implementation compact,’ will be made public, as mandated by Japan’s IR act.<\/p>\n\n\n\n

Authorities in Osaka have said that\u00a0the opening date for the IR<\/a> has been moved\u00a0back from autumn-winter 2029 to at least autumn 2030. They reported there has been\u00a0an increase in the initial investment cost, which is expected to rise by JPY190bn (US$1.29bn). Subsequently, a revised Osaka IR District Development Plan was presented to the national government on September 8.<\/p>\n\n\n\n

Osaka\u2019s IR project is backed by\u00a0a consortium<\/a>\u00a0that includes MGM Resorts International and Orix. MGM Resorts CEO\u00a0Bill Hornbuckle\u00a0indicated earlier this month that he would travel to Japan on September 29 to finalise the implementation agreement and a lease.<\/p>\n\n\n\n

Hornbuckle had previously said that construction would commence late this year or early in 2024. Authorities estimate that once finished, the IR could attract 20 million visitors annually. Japan has a long-term goal of 60 million foreign visitors per year by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plan has been approved by the Japan Tourism Agency, one of the bodies coordinating the IR approval process at the national level.<\/p>\n","protected":false},"author":176,"featured_media":19199,"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 Japan Tourism Agency has approved Osaka's Integrated Resort (IR) implementation plan, backed by a consortium including MGM Resorts International and Orix. The project faces a delay, with the opening now slated for autumn 2030, and an increased investment cost of JPY190bn (US$1.29bn). MGM Resorts CEO Bill Hornbuckle is set to finalize the agreement.","focusai_entities":"Japan Tourism Agency, Ministry of Land, Infrastructure, Transport, and Tourism, MGM Resorts International, Orix, Bill Hornbuckle","focusai_location":"Japan, Osaka","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on MGM's Capital Plan?","query":"How will the JPY190bn increase in initial investment and the project delay impact MGM Resorts International's capital expenditure forecasts and overall balance sheet strategy, particularly concerning its global portfolio?"},{"label":"Regulatory Compliance Challenges?","query":"What specific regulatory compliance challenges might arise from the 'implementation compact' and its public disclosure, particularly concerning B2B\/B2C licensing, responsible gambling controls, and governance frameworks for the Osaka IR?"}],"footnotes":""},"categories":[157,16338],"tags":[23632],"class_list":["post-777009578","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\/777009578","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=777009578"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009578\/revisions"}],"predecessor-version":[{"id":777041266,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777009578\/revisions\/777041266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19199"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777009578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777009578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777009578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}