Osaka governor confident MGM Osaka will boost economy and bring new business opportunities

Hirofumi Yoshimura said the integrated resort should bring “new entertainment and MICE businesses to the prefecture.”

Japan.- Hirofumi Yoshimura, the governor of Osaka prefecture has expressed optimism that the integrated resort (IR) and casino that MGM-Orix is developing on Yumeshima island will boost the economy and bring new business opportunities.

According to local media reports, Yoshimura said: “The IR should bring new entertainment and MICE businesses to the prefecture. Those business opportunities should work together, creating synergies. The economic impact of those is considered quite huge.”

He added: “Without a strong economy, it would be difficult to keep a local government and society going because [otherwise] they have to depend on tax increases.”

The IR is expected to cost JPY1.27tn (US$ 8.9bn) and is anticipated to generate annual revenue of JPY520bn, of which about 80 per cent is expected to come from the casino. It will also include hotels, shopping areas, convention areas and facilities. Operations are slated to commence by autumn 2030.

The development of the IR is a joint venture between the Orix Group, MGM Resorts International and several other Japanese entities as smaller-scale investors.  Construction for Phase I of the complex is set to begin at the end of April. Plans for Phase II of the Yumeshima development are also being discussed, with possible additions such as a motor racing track, arena, hotel, and various entertainment options. The Osaka government said it expects Phase II opening to coincide with the launch of MGM Osaka in 2030.

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Hirofumi Yoshimura said the integrated resort should bring “new entertainment and MICE businesses to the prefecture.” Japan.- Hirofumi Yoshimura, the governor of Osaka prefecture has expressed optimism that the integrated…