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Home/Japan chooses Osaka to host its first hotel-casino
Japan chooses Osaka to host its first hotel-casino
The American group MGM Resorts International has established itself as the most represented land-based casino operator on the famous Las Vegas Strip.
Also active in Macau, it will further expand its international footprint through Japan. On Friday, April 14, the Japanese government approved its hotel-casino project in Osaka Prefecture.
The latter becomes the first authorized gaming establishment in the Japanese archipelago.
The tedious process of legalizing land-based casinos in Japan
During 2018, Japan’s ruling Liberal Democratic Party encouraged by the late Prime Minister Shinzo Abe decided to legalize land-based casinos in the country.
The announced objective was to boost the tourist activity in the archipelago. Despite strong opposition from the local population, this bill was passed at the end of December 2018.
At the time, many international operators announced their intention to apply. This is absolutely not surprising. Indeed, analysts believe that Japan could emerge as one of the most important casino markets in the world, alongside Macau and Las Vegas.
However, the rule-making process has been extremely tedious in Japan. In addition, there was a corruption scandal and the international Covid-19 coronavirus pandemic that further delayed the development of Japanese casino hotels.
However, Shinzo Abe’s successors have continued in the same vein. This was confirmed last Friday, April 14, when the government of Prime Minister Fumio Kishida officially approved the project carried by the MGM Resorts International group.
An overview of the future Osaka hotel-casino
The famous project that has just been authorized is scheduled to be realized, during the year 2029. Budgeted at about 9 billion dollars, it is to be built on the artificial island Yumeshima in Osaka Bay.
In reality, the operator MGM Resorts International’s share in the complex is only 40%. Equally important is the Japanese financial services group Orix Corporation.
The remaining 20% is divided among 20 other Japan-based companies including Panasonic, Kansai Electric Power and West Japan Railway.
Inspired by the hotel-casinos on the Las Vegas Strip, the Osaka project is to house hotels, meeting and convention facilities, shopping malls and a wide range of leisure activities.
Among them, one can obviously mention a huge casino with slot machines and tables dedicated to traditional games.
It is also known that the complex will offer a ferry terminal and heliports. This is because it must attract the richest players from all over the continent and beyond.
According to the latest estimates, the hotel-casino is expected to generate more than 520 billion yen in annual revenue, which is about 3.5 billion euros.
Analysts also estimate that it will attract an average of up to 6 million international tourists and 14 million visitors each year.
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