Japan Set to Approve First Casino Resort in Osaka
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Japan’s government is set to approve a plan by Osaka Prefecture and the city of Osaka to open what will be Japan’s first casino resort in 2029.
The development comes as travel restrictions introduced during the coronavirus pandemic are removed, leading some local governments to reassess the idea of attracting tourists to a so-called integrated resort, or IR, comprising a large hotel, conference rooms and gambling areas.
The Osaka prefectural and city governments aim to open the facility between the fall and winter of 2029 on the artificial island of Yumeshima in Osaka Bay.
The resort, involving a partnership between MGM Resorts International of the US and Japan’s Orix, is expected to attract around 20 million visitors annually and bring ¥1.14 trillion ($8.5 billion) in annual economic benefits to the western Japan region centering on the prefecture.
In 2018, a law was enacted that allowed for the development of up to three IRs. But plans to stimulate the economy through casinos faced public opposition largely due to concerns about the negative impacts of gambling.
Momentum was also slowed by procedural delays amid the pandemic, withdrawals of foreign operators and a graft scandal that led to the arrest in 2019 of a lawmaker who campaigned for casino legalisation.
The approval of the Osaka plan, which had been expected last year, was delayed also due to concerns over liquefaction risk and soil contamination on Yumeshima.
