According to MGM Resorts CEO Jim Murren, Osaka’s IR could launch in 2025 should a series of agreements between the private sector and government.
Japan.- The casino industry in Japan may be facing delays and miss its original timetable. According to chairman and CEO of MGM Resorts Jim Murren, it would be hard but not impossible to launch an Osaka IR by 2025.
Mr Murren said it would take “almost surgical precision” by the private sector and the local government working together to achieve it. During the Strategic Decisions Conference 2019, hosted by brokerage Sanford C. Bernstein he referred to the request for proposal stage.
“Whoever wins is going to have their work cut out because the goal is to try to get the IR open in time for the World Expo in 2025,” he said. According to Murren, it may happen by this time next year.
“It requires almost surgical precision, not just by the developer, but by the government; from a permitting perspective, from an infrastructure perspective. It’s certainly not impossible,” he was quoted saying by GGRAsia.
“Osaka was the only city, the only prefecture that early on said ‘we absolutely want to host an IR bid’,” he noted. “I’ve been all round the country for five years, and although there are great potential host locations, we decided early on to pick Osaka.”
The casino industry was waiting for the basic policy for the development of integrated resorts (IRs) and will continue waiting. The government announced plans to postpone said regulations until the election in summer for the House of Councillors, the upper chamber of parliament, or later.
According to a senior government official quoted by Jiji Press, they will show the basic policy “next year.”
The authorities planned to introduce the Japanese casino policy this summer but decided to postpone them. The campaign and the elections are the main reasons and will have the industry waiting a few more months.