Osaka’s Integrated Resort (IR) District Development Plan has been approved by Japan’s national government. The Osaka prefecture and city governments, along with MGM Resorts International and Orix Corp, received certification from the Ministry of Land, Infrastructure, Transport and Tourism to proceed with their proposed JPY1.08 trillion casino resort project on Yumeshima Island.
Osaka IR to Boost Japan’s Tourism
The approval was granted on Friday, April 14, during a meeting of the Headquarters for the Promotion of Integrated Resorts headed by Prime Minister Fumio Kishida. Apart from bringing huge economic benefits to the Kansai region, the Japanese leader is hopeful that Osaka’s IR project would also make Japan one of the top tourist destinations in the world.
MGM Resorts and its joint venture partner Orix Corp will develop the casino resort on Yumeshima Island in Osaka Bay. The facility is slated to open in 2029 and is expected to attract 20 million visitors each year.
The biggest winners during the local elections on April 9 were pro-IR, including re-elected governor Hirofumi Yoshimura and Osaka’s new mayor, Hideyuki Yokoyama, both of whom are members of the Osaka Innovation Party.
Will Nagasaki’s IR Plan Be Approved Too?
Meanwhile, Nagasaki is still waiting for the national government’s decision on its IR plan. It is understood that officials are still reviewing certain aspects of the proposal, including the funding scheme. Nagasaki’s IR project was not discussed during Friday’s meeting, according to local news outlets.
