Thursday, March 28, 2024

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MGM-Orix Osaka IR project facing possible further delays due to the construction of the Osaka 2025 pavilion

According to the Japan Times, preparatory works for developing the Yumeshima artificial island in Osaka Bay started less than 500 days before the expo is due to open in spring, 2025.

Japan election results cement MGM/Orix IR license chances

The outcome of the Japan national elections is positive news for the country's IR industry and in particular for the changes of the MGM Resorts/Orix consortium in Osaka after surprise gains by the Ishin To Party.

MGM-Orix consortium confirmed as Osaka IR partner, details released

MGM Resorts on Tuesday confirmed that along with its joint-venture partner Orix, it has been selected by Osaka as the region’s integrated resort partner. 

MGM-Orix consortium proposes US$9.1 billion IR for Osaka

In what is widely regarded as positive news by local observers, it has emerged that the MGM-Orix consortium is proposing a JPY1 trillion (US$9.1 billion) investment level for its Osaka Yumeshima IR.

Japan Gov’t could restart IR application tender in summer – Analyst

The Japanese government could start considering opening another integrated resort concession application tender around July to August, a Japan-based gaming professional stated.

“Overtourism” concern leads Osaka to consider taxing inbound tourists 

The governor of Osaka Prefecture stated on Wednesday that they are considering implementing a fixed fee for foreign visitors, potentially aligning it with the commencement of the World Expo in western Japan in April 2025.

Minister calls for postponement of 2025 Osaka Expo due to earthquake

The Japanese Minister in charge of economic security, Sanae Takaichi, has called for the postponement of the 2025 Osaka-Kansai Expo. 

Japan Osaka IR already attracting new hotel investment plans 

International investment companies have set their sights on new hotel investment plans, aiming to capitalize off Osaka's casino plans.

The birth of a new Asian casino monopoly

The recent decision by Japanese authorities to reject the proposal for a new IR in Nagasaki has created a new Asian casino monopoly. Expert Daniel Cheng points out the political machinations that brought about the outcome and the risks now being taken, both by the lone IR operator in Osaka, and the government.

Daily Asia Gaming eBrief: Nagasaki IR project shot down by authorities

Japan's tourism ministry has shot down the plans for an integrated resort in Nagasaki, over financing concerns. The Casinos Austria-led project, under review by the government since April of 2022, was the only other IR projected after authorities gave approval for the MGM-Orix IR project in Osaka. The move means Osaka will likely be the only IR to operate in the country for the foreseeable future.