CHICAGO — Japan’s Ministry of Land, Infrastructure, Transport and Tourism approved MGM Resorts’ plans for the casino resort project in Osaka, which will be an estimated $10 billion project and is expected to be complete in late 2029, according to MGM.
The project, which will be the first casino development in Japan’s history, is designed to turn the region into a top hospitality and entertainment destination, as well as be a hub for tourism across the country. The Associated Press reports that the integrated resort will include conference facilities, a hotel, theatre and an exhibition hall, and the project will generate $3.9 billion in revenue annually.
“It is an honor to be selected by the Government of Japan to develop a tourism project of this scale,” MGM Resorts CEO and President Bill Hornbuckle said. “We couldn’t be more excited to get started on the development of one of Japan’s first Integrated Resorts in the great City of Osaka, and we look forward to working with our partner ORIX and Osaka Prefecture/City to realize this long-held goal.”
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The project is expected to attract domestic and international tourist spending. According to Reuters, casinos and other private gambling were illegal in Japan until an integrated resort law provided an exception to casino games 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 completed development is projected to attract 6 million international and 14 million domestic visitors annually, according to Reuters’ reporting on the project document. There were also plans submitted for an integrated resort in Nagasaki, but the government said it would need more time to review that bid.
Reach Bill Hornbuckle at (855) 788-6775