CHICAGO — Japanese Ministry of Land, Infrastructure, Transport and Tourism approved MGM Resorts“Plans for the casino complex project in Osaka, which will be an estimated $10 billion project and is expected to be completed by the end of 2029, according to MGM.
The project, which will be the first casino development in Japan’s history, is designed to transform the area into a premier hospitality and entertainment destination, as well as a tourism hub across the country. Associated Press The integrated complex will reportedly include conference rooms, a hotel, a theater and an exhibition hall, and the project will generate $3.9 billion in revenue annually.
“We are honored to have been selected by the Japanese government to develop a tourism project of this magnitude,” said Bill Hornbuckle, CEO and President of MGM Resorts. “We are thrilled to begin developing one of Japan’s first integrated resorts in the great city of Osaka, and we look forward to working with our partner ORIX and the Osaka Prefecture/City to realize this long-held goal.”
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The project is expected to attract spending from domestic and international tourists. ReutersCasinos and other private gambling activities were illegal in Japan until an Integrated Resorts Act provided an exception for casino gambling at officially approved establishments in 2018. The law was part of an effort to attract more tourists to the country, which has a large and affluent population.
The project is expected to attract 6 million international visitors and 14 million domestic visitors a year, according to Reuters. Plans for an integrated hotel complex in Nagasaki have also been submitted, but the government has said it will need more time to consider the offer.
Contact Bill Hornbuckle at (855) 788-6775