Good Morning. Patience is key. And those who have been waiting to see an Integrated Resort in Japan are having their patience tested yet again, as MGM’s Osaka IR project is now only expected to open in the autumn of 2030, at an additional cost of $1.3 billion. Meanwhile, down under, Australia’s regulators are only likely to let up on their industry crackdown within three to five years, and Crown and The Star are seeking to position themselves for the win. And in South Korea, Jeju Dream Tower‘s casino revenue fell in August despite an increase in visitation.
What you need to know
- MGM’s Osaka IR suffers a delay, with the opening pushed back until the autumn of 2030, even as its price increases by $1.3 billion.
- Under the Scope: Australia’s regulators are undergoing a cyclical industry crackdown, set to ease within three to five years: Ben Lee.
- Casino revenue at Jeju Dream Tower resort in South Korea declined by 11 percent in August even as visitor numbers increased.
On the radar
- Online gambling tax proposal by NZ elections candidate deemed illegal.
- Tabcorp fined $650k for non-compliance with VGCCC directions.
- HKJC records record turnover, urges for no increases in betting duties.
- Stake.com online casino hacked for over $40 million in crypto.
- China and Myanmar detain over 200 in cyber scam crackdown.
- Skill-based gambling machines pose unique gambling addiction risks.
The long-awaited first integrated resort in Japan has suffered another setback, with the Osaka property opening now delayed until autumn of 2030. Delays in government approvals are partially to blame for the new timetable, however a surge in construction costs are also holding back MGM’s venture into the country, with the project now expected to cost an additional $1.3 billion.
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