{"id":777011659,"date":"2023-12-05T08:18:57","date_gmt":"2023-12-05T11:18:57","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011659"},"modified":"2026-04-22T14:58:51","modified_gmt":"2026-04-22T17:58:51","slug":"mgm-orix-begin-preparatory-work-for-osaka-ir","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-orix-begin-preparatory-work-for-osaka-ir","title":{"rendered":"MGM-Orix begin preparatory work for Osaka IR"},"content":{"rendered":"\n<p>There are already concerns about timing.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Japan.- Preparatory work has begun for an integrated resort in Osaka. Cement is being poured into the ground on <strong>Yumeshima<\/strong>, an artificial island in Osaka Bay. <\/p>\n\n\n\n<p>However, there are concerns about timing. Preparations for an expo to be held next to the site on April 13, 2025 have been set back by rising costs and labour shortages, causing delays to the construction of a pavilion.<\/p>\n\n\n\n<p><strong>MGM Resorts<\/strong> has\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/osaka-announces-mgm-orix-as-ir-partner\" target=\"_blank\" rel=\"noreferrer noopener\">partnered with Orix Corp<\/a>, a Japanese company, for the resort and casino. It was expected to cost JPY1.08tn (US$8.38bn). However, the initial investment is expected to rise by JPY190bn (US$1.29bn). <\/p>\n\n\n\n<p>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&nbsp;<strong>20 million people<\/strong>&nbsp;a year are expected to visit, including 6 million visitors from abroad, generating sales of JPY520bn annually, with JPY420bn coming from gambling revenue.<\/p>\n\n\n\n<p>Originally, the prefectural government had envisaged the casino resort\u2019s inauguration in the autumn or winter of 2029. However, there was&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/japan-tourism-agency-approves-osaka-ir-implementation-plan\" rel=\"noreferrer noopener\">a delay in getting approval from central government<\/a>.<\/p>\n\n\n\n<p>When\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/japan-tourism-agency-approves-osaka-ir-implementation-plan\" target=\"_blank\" rel=\"noreferrer noopener\">Osaka signed an agreement in September with MGM and Orix<\/a>, there was a clause that allowed them to cancel the project if costs rose further.  However, they will be required to pay a withdrawal penalty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are already concerns about timing.<\/p>\n","protected":false},"author":176,"featured_media":20877,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Preparatory work has commenced for the Osaka Integrated Resort on Yumeshima, a joint venture between MGM Resorts and Orix Corp. However, the project faces significant challenges including rising costs, now projected to exceed JPY1.27tn, and construction delays, exacerbated by issues with a nearby expo. A contractual clause allows partners to cancel the project with a penalty if costs escalate further, raising concerns about its timely inauguration and financial viability.","focusai_entities":"MGM Resorts, Orix Corp","focusai_location":"Japan, Osaka","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Osaka IR Cost Escalation Impact?","query":"What is the projected impact of the JPY190bn cost escalation on the Osaka IR's internal rate of return (IRR) and the financial commitments of MGM Resorts and Orix Corp?"},{"label":"Regulatory Approval Timeline?","query":"Given the central government approval delays, what specific regulatory milestones remain for the Osaka IR, and what is the revised, realistic timeline for its operational launch?"}],"footnotes":""},"categories":[157,16338],"tags":[23632,24020],"class_list":["post-777011659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts","tag-mgm-orix"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011659","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=777011659"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011659\/revisions"}],"predecessor-version":[{"id":777011662,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011659\/revisions\/777011662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20877"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}