Osaka Unveils Draft Plan for Casino Resort Development

Politics

Osaka, Dec. 21 (Jiji Press)--The Osaka prefectural and municipal governments unveiled Tuesday a draft plan to develop an integrated resort featuring a casino for an opening sometime between autumn and winter of fiscal 2029.

According to the plan, the resort will be built on the artificial island of Yumeshima in Osaka Bay and chiefly operated by the team of U.S. casino giant MGM Resorts International and Japan’s Orix Corp. <8591>. It will be operated for 35 years, but the operation period can be extended.

The team will be required to initially invest some 1.8 trillion yen.

The casino resort is estimated to attract 20 million visitors a year, with 14 million domestic visitors and 6 million visitors from abroad. Its annual economic impact is projected at 1.14 trillion yen.

The draft plan also says the city government, which owns Yumeshima, will spend some 79 billion yen from its special account to decontaminate soil on the construction site, where excessive levels of contaminants such as arsenic were found.

[Copyright The Jiji Press, Ltd.]

Jiji Press