Osaka IR KK is expected to complete a report on the impact of a planned integrated resort with casino on Yumeshima Island in Osaka Bay by this summer.
Osaka IR KK is a coalition of MGM Resorts International, its Japanese partner Orix Corp., and a number of smaller-scale domestic investors. The group was approved to begin environmental remediation at the construction site, with the goal of building an $8 billion resort complex by 2030.
According to GGRAsia, Osaka city officials recently hosted a public hearing on the matter. Anti-casino activists were among those in attendance.
Osaka IR KK involves United States-based casino group MGM Resorts International, Japan’s Orix Corp, and a number of other Japanese entities as smaller-scale investors. The group is expected to complete the final environmental assessment and publish it this summer.
Last October, city officials released a draft of the report. It stated that “the targets of environment conservation have been satisfied in all the items and aspects.” In December, work began on the manmade island to prevent soil liquefaction and deal with other land issues.
On January 18, the Osaka Chamber of Commerce and Industry will present an IR business seminar to discuss the economic impacts of the development. The Chamber of Commerce as well as the Kansai Economic Federation and the Kansai Association of Corporate Executives are reportedly supporters of the planned MGM Osaka IR, the first and so far only IR development approved by the central government.
