Japan is set to approve Osaka as the nation’s first casino location, local media reported, marking a major step in ambitions of turning the country into an Asian gambling destination.
Japanese Prime Minister Fumio Kishida’s government is expected to sign off on the proposal submitted by local authorities for an integrated resort, including hotels and conference halls, scheduled to open in late 2029, Jiji news agency said yesterday.
Cabinet ministers would decide on the move as early as tomorrow, Jiji said.
Photo: AFP
However, delays in the screening process mean it might start operations much later.
Shares of gaming-related companies climbed in Tokyo.
Orix Corp, which has been working on the Osaka plan with MGM Resorts International, rose as much as 2.1 percent, while gaming machine producer Universal Entertainment Corp jumped 6.9 percent.
TOURISM FOCUS
Building a casino is key to the country’s hopes to capture resurgent tourism demand and double the number of foreign visitors compared with pre-COVID-19 pandemic levels to 60 million by 2030.
The Japanese government is slated to approve up to three integrated resort locations, with a rival bid submitted by Nagasaki Prefecture still under review, Jiji said.
According to the Osaka plan, the resort would be built on Yumeshima Island at an initial cost of ￥1.08 trillion (US$8.1 billion), seeking to attract an estimated 20 million visitors per year.
The companies would still need additional approval to operate the casino.
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