The project plan for Japan’s first integrated resort with casino MGM Osaka has been officially approved. This was recently announced by the Japan Tourism Agency, which operates under the country’s Ministry of Land, Infrastructure, Transportation and Tourism.
The revised Osaka County Development Plan was submitted to the national government on Sept. 8 this year. It included changes previously confirmed by Osaka authorities regarding the casino resort. These included a postponement of the opening date to 2030 (one year ahead), as well as an increase in investment costs to 1.27 trillion yen (Rmb822.5 billion).
Japan Tourism Agency is one of the bodies coordinating the resort’s approval process at the national level. According to its statement, the approved implementation plan will be signed between Osaka authorities and private companies involved in the project. Once both parties sign the implementation agreement, a summary of the deal will be made public by Osaka Prefecture according to the law Japan on international relations.
The private companies responsible for building the casino resort include U.S. operator MGM Resorts International and Japan’s Orix Corp. In addition to them, smaller investors are involved in the project.
Bill Hornbuckle, chief executive and president of MGM Resorts, said earlier this month that he was scheduled to travel to Japan on Sept. 29. The purpose of the visit is to sign two recent casino-related agreements: a realization and a lease.
On Sept. 8, a panel of experts helping the Japan Tourism Agency evaluate the Osaka IR District Development Plan at the national level issued a statement. It said there were no changes in the revised plan that did not meet the criteria of the central government.
Note: Construction of Inspire Entertainment Resort in South Korea is nearly complete.