MGM-Orix Team Picked as Osaka Casino Resort Operator
Osaka, Sept. 28 (Jiji Press)--A team of MGM Resorts International and Orix Corp. <8591> has been picked as the operator of a planned casino resort in the western Japan city of Osaka, Hirofumi Yoshimura, governor of Osaka Prefecture, said Tuesday.
The casino-featuring integrated resort is scheduled to open in the late 2020s on Yumeshima, an artificial island in Osaka Bay. The initial investment planned by the U.S.-Japan team totals 1.08 trillion yen.
The resort is expected to draw 20.5 million visitors annually and generate an economic effect of over 760 billion yen per year.
"We'll create the world's highest-level integrated resort, which will boost Osaka's economy. We'll propose it to the central government with confidence," Yoshimura told a news conference.
The project is expected to be joined by companies in the Kansai region including Osaka.
[Copyright The Jiji Press, Ltd.]