Osaka city was expected to develop its integrated resort project this year but the current situation has halted all plans until further notice.<\/p>\n\n\n\n\n\n\n\n
Japan.- Osaka prefecture has confirmed to local press that it has suspended the process for developing a casino complex in the city due to the Covid-19 pandemic.<\/p>\n\n\n\n
The governor Hirofumi Yoshimura said: \u201cUnder the coronavirus situation, the process related to the IR has been suspended from the time when previously the prefecture and city announced the postponement of the RFP [request-for-proposal] submission deadline,\u00a0on June 23.”<\/p>\n\n\n\n
He added: \u201cThe prefecture and city together with MGM Resorts International have maintained its positive, forward-looking stances on Osaka IR.\u201d <\/p>\n\n\n\n
As has already been reported, MGM Resorts partnered with Japanese financial services group Orix Corp to develop a bid for the IR complex.<\/p>\n\n\n\n
According to analysts, casino liberalisation in Japan has been halted not only by the Covid-19 pandemic but also because of the national government\u2019s delay in issuing its basic policy on IRs.<\/p>\n\n\n\n
Yokohama prefecture has already announced it will postpone its IR project until further notice while it waits for the national government’s directions to draw up its local implementation policy.<\/p>\n\n\n\n
At the moment, legislation says it will be permitted to open a maximum of three casino resorts in Japan and that local governments interested in hosting a resort must choose a private-sector partner then apply to the national government to have one.<\/p>\n","protected":false},"excerpt":{"rendered":"
Osaka city was expected to develop its integrated resort project this year but the current situation has halted all plans until further notice.<\/p>\n","protected":false},"author":2,"featured_media":9367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Osaka's integrated resort project, involving MGM Resorts International and Orix Corp, has been suspended indefinitely due to the COVID-19 pandemic and delays in the national government's basic policy issuance. This postponement, mirrored by Yokohama prefecture, signifies a broader slowdown in Japan's casino liberalization efforts, impacting market entry timelines for potential operators and investors.","focusai_entities":"Osaka prefecture, Osaka city, Hirofumi Yoshimura, MGM Resorts International, Orix Corp","focusai_location":"Japan, Osaka, Yokohama","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 (0.9)","focusai_suggestions":[{"label":"National Policy Impact?","query":"What specific policy elements are pending from the national government, and how might their eventual release impact the current IR proposals and overall market liberalization timeline?"},{"label":"Partnership Viability?","query":"How will the extended delay affect the financial viability, capital expenditure projections, and partnership structures of the existing bids, particularly for MGM Resorts International and Orix Corp?"}],"footnotes":""},"categories":[160,28,16338,167,158],"tags":[29,473,470,707],"class_list":["post-9365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-news-region","category-slider-home","tag-casino","tag-ir","tag-japan","tag-osaka"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9365","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=9365"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9365\/revisions"}],"predecessor-version":[{"id":9378,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9365\/revisions\/9378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9367"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}