MGM set to develop Osaka IR
The Prefectural Government revealed that MGM, together with Orix, was the lone bidder for the Osaka IR development after a long process.
Japan.- The process of choosing a partner to push casino development has been a top priority across Japan. However, we seem to be close to its end as the industry nears arrival in the country.
The Osaka Prefectural Government announced a major break on its screening of candidates for its own venue. The authorities revealed that MGM was the lone bidder for the Osaka Yumeshima IR through its consortium with Orix.
After competitors dropped out of the race, MGM basically won the Osaka IR bidding. Therefore, should a venue land in the Prefecture, the company would develop it.
IR timeline
The casino industry is getting closer each day to Japan and IR developments will soon arrive. The initiative has taken another step further as the Japan Tourism Agency announced further details on the licensing schedule.
The Agency explained it will accept proposals from local governments between January 4 and July 30, 2021. Therefore, we can expect Japan regions to pick IR consortium partners in late 2020 and early 2021.
The Agency also disclosed it has conducted consultations with interested governments. The Tokyo Metropolitan Government, prefectures of Nagasaki, Osaka, and Wakayama; and the cities of Chiba, Nagoya, Osaka, and Yokohama contacted them. Hokkaido was also interested in an IR development but seems to be out of it.
