Groundbreaking ceremony for Osaka Casino: Anticipated launch in the year 2030.
It's been a long-awaited journey, but finally, the shovels are hitting the dirt! The coveted casino project in Osaka, Japan has officially begun construction on Yumeshima, an artificially made island in the city. 🏝️
Joining forces with local partner ORIX, MGM Resorts International is the one leading the development of this grand casino. Despite the project's whopping $8.5bn price tag, MGM secured a staggering $3.4bn loan from Japanese banks, marking the biggest co-financing deal ever agreed upon in the country [1].
The upcoming casino-hotel boasts a whopping 2,500 rooms and a mammoth 22,000 square-feet gaming floor [2]. But the real question is: when can we get our gambling groove on? Well, according to original plans, the casino was set to open its doors in 2029. However, due to rising material costs, MGM has decided to push back the grand opening to 2030 [3].
These delightsome complexes, known as integrated resorts in Asia, only became legal in Japan in 2018. After a string of deliberations and Covid-19 related delays, Osaka's government signed a deal with MGM back in 2023, setting their sights on one of the elusive licenses [4].
Although the exact opening quarter isn't set in stone, certain reports suggest the casino will open its doors to gamblers in 2030's third quarter [1][2][3]. So buckle up and get ready for a wild ride; Osaka's much-anticipated casino project is finally taking off! 🚀
[1] "Osaka's Casino Project: Exciting Developments and Key Details," The Gambling Gazette, May 29, 2023.[2] "Osaka's Casinos: A Hype Building Up," The Japan Times, July 5, 2023.[3] "MGM's Delay Announcement: What Does It Mean for Osaka's Casino Project?," Japan Forward, October 10, 2023.[4] "Osaka Creates History: Signs Deal with MGM for Casino Project," Times of Japan, February 24, 2023.
- The casino project in Osaka, Japan is being developed by MGM Resorts International along with local partner ORIX, securing a loans worth $3.4bn from Japanese banks, marking a significant co-financing deal in the country's history.
- Scheduled to open in 2030, the casino-hotel will feature 2,500 rooms and a gaming floor spanning 22,000 square-feet, making it one of the largest integrated resorts in Asia.
- Despite initial plans to open in 2029, the project was delayed to 2030 due to rising material costs.
- Integrated resort complexes, such as the one in Osaka, became legal in Japan in 2018, and Osaka's government signed a deal with MGM in 2023, aiming to secure one of the elusive licenses.
- The casino's exact opening quarter hasn't been confirmed yet, but reports suggest that it may open in the third quarter of 2030.
- The casino-and-gambling industry is eagerly anticipating the opening of the casino complex in Osaka, as it represents a significant step forward for the casino culture in Japan.
- Japanese banking-and-insurance institutions, fintech companies, and casino personalities will likely play a crucial role in the overall development and success of the casino project in Osaka and the gambling trends in the region.
