A ceremony to mark the occasion took place at the site of the future integrated resort earlier this week. Osaka IR Co., the entity that is overseeing the project, which has the support of Osaka Prefecture and Osaka City, confirmed the news in a statement.
Osaka Governor Hirofumi Yoshimura and MGM Resorts Japan CEO Ed Bowers were among those in attendance at the ceremony. The Osaka integrated resort is scheduled to open around autumn 2030.
Osaka IR Co. said that the project “will contribute to the development of Japan’s tourism industry and the growth of the Kansai region through this first-of-its-kind project in Japan”.
Integrated Resort a Major Commitment to Osaka
Once open, the resort will cover an area measuring 490,000sq m and be home to a host of amenities. These include an on-site casino, made possible after Japan’s government made licenses available in 2018.
MGM and Orix remain the only recipients of a license, with this split between the two entities for the Osaka resort. The license was awarded back in 2023.
It will be built on Yumeshima, an artificial island near Osaka, which will also host this year’s World Expo.
In total, MGM and Orix have pledged up to JPY1.6 trillion (£8.4 billion/€9.9 billion/$11.2 billion) for the resort. They will each have a 40% holding in the resort, with the other 20% among local investors, including transportation and power companies.
