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Osaka’s casino may overtake Singapore’s
At present, the most profitable land-based casinos internationally are the 2 and only such establishments licensed in Singapore.
They are the Marina Bay Sands of the American group Las Vegas Sands on the one hand and the Resorts World Sentosa of the Malaysian conglomerate Genting on the other.
Well, this enviable status could soon be taken away from them by the future Osaka casino which has just been authorized by the Japanese government (see article below).
A hotel-casino budgeted at about 9 billion dollars planned to open in 2029
On Friday, April 14, 2023, Japan officially announced that the hotel-casino project in Osaka Prefecture was the first to be approved.
It is jointly carried by the American operator MGM Resorts International and the Japanese financial services group Orix Corporation at 40% each.
The remaining 20% is divided among various Japanese companies such as Panasonic, Kansai Electric Power and West Japan Railway among others.
This gaming facility budgeted at about $9 billion is scheduled to open on the artificial island Yumeshima in Osaka Bay, during the year 2029.
Even though this date still seems quite far away, analysts have already made performance predictions about it.
All agree that this gaming complex is expected to emerge as a giant in the Asia-Pacific sector.
Ideal location to attract gamblers
It is necessary to recognize that many assets play in favor of the future Osaka hotel-casino. First of all, it is located in one of the most important metropolitan areas in the world.
It is home to more than 19 million people and attracts more than 12 million foreign tourists every year.
As a result, the local population of Osaka is no less than 3 times that of Singapore.
If this city-state attracts more foreign tourists, the Japanese city largely compensates this relative weakness by a very important national tourism.
Some experts believe that the hotel-casino will initially earn most of its gross gaming revenue from Japanese residents.
For the time being, it must be said that this gaming complex remains the one and only one of its kind authorized in the country.
Moreover, it is ideally located at a little less than 90 minutes by flight or a little more than 2 hours by high-speed train from Tokyo.
Tokyo is the most populated city in the world with an urban area of more than 42 million inhabitants!
As a result, the hotel-casino could attract about 20 million visitors each year: 14 million Japanese and 6 million foreigners.
The latest estimates put the revenue at more than 520 billion yen annually, which is about 3.5 billion euros.
However, one important question remains: will there be enough rooms in the hotel to satisfy the demand, which is likely to be extremely high? Only time will tell…
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