OSAKA Osaka Prefecture is located in the Kansai region on
Honshu and its capital city is Osaka, which is the third largest city in Japan with a population of 2.7 million in the metropolitan area and 19.3 million in total.
Te prefecture maybe one of the smallest prefectures (1,
905sq.km in size) but Osaka is also one of the most densely populated with around 8.8 million which is divided into 33 cities, nine towns and one village. Osaka Bay is on the west which leads to the Seto Inland Sea and the other three sides are mountainous.
A decrease in population is now a fundamental issue in Osaka, whilst the need to promote tourism and construct MICE facilities to boost tourism is a key element for the IR project. Osaka was a clear favourite for an Integrated Resort with Yumeshima, the man made artificial island built from building rubble from city construction, being the designated location for development. Yumeshima is near the mouth of the Yodo River and is about 390 hectares in total. It is now home to one of the biggest container terminals in Japan and has great highway and road access to all areas of the Kansai region.
Osaka announced its intention to promote Yumeshima as a candidate for an IR back in 2014. Additionally, they made a bid for the 2025 World Expo and the island is expected to host this event during six months from May to November with a projected visitor count of 28 million.
Te Osaka Prefecture IR Promotion Bureau was established in April 2017. Te designated IR
project land area is 49 hectares with an investment of around ¥930bn. Te IR expects to see an annual GGR of ¥480bn with ¥380bn of that from gaming revenue.
Osaka and its Yumeshima IR project has seen several delays whilst Osaka Mayor Ichiro Matsui announced his intention to retire from politics at the end of his term in 2023 which has thrown some doubt on the future of this project.
Matsui announced his intention to resign as head of regional party Osaka Ishin no Kai in November, following the party’s referendum defeat over his pet project aimed at reorganising Osaka city into a metropolis like Tokyo. Although not directly related to the IR project plans, it does have an impact as both Matsui and Governor Hirofumi Yoshimura are strongly pro- IR. In short, the man who established Osaka’s IR plans and are still its greatest advocate is stepping out of the picture.
Te Osaka Prefecture finished its RFP in early 2020 and is now planning to revise and announce the implementation policy (draft) for the prefecture and city following the announcement of the Basic Policy in December via the national government. It is thought that Osaka’s resort won’t open until 2027 at the earliest due to delays.
MGM Resorts and local partner Orix
Te Osaka Prefecture finished its RFP in early
2020 and is now planning to revise and announce
the implementation policy for the prefecture and city following the Basic Policy in December via the
national government. It is thought that Osaka’s
resort won’t open until 2027 at the earliest.
Corporation is the only group interested in this area for a casino after Genting Singapore dropped its Osaka bid early last year.
It had been suggested that moves by MGM to acquire UK sports betting and igaming company Entain could see MGM’s interest in Japan diminish if not disappear entirely. However, MGM announced in January it would not be making an offer for Entain.
WIRE / PULSE / INSIGHT / REPORTS P57
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