Osaka Prefecture will select the preferred developer of an integrated resort with a casino on the man-made Yumeshima island near the city of Osaka in the spring of 2020, news outlet Nippon reported citing information by the government of the Japanese prefecture.
City and prefectural officials hope that the future integrated resort will be completed and will become operational ahead of the World Expo 2025 that Osaka was chosen to host.
While a number of Japanese cities and prefectures have expressed interest in hosting an integrated resort, Osaka is believed to be a favorite both with interested developers and with the central Japanese government.
Japan legalized casino gambling in late 2016 and has been working to craft the rules and regulations under which its casino industry will be managed since then. Under the newly implemented law, casinos must be part of larger integrated resorts. The gaming facilities must occupy no more than 3% of the total area of the larger properties.
The Japanese government will award three gaming licenses to three preferred developers. The approved companies will be expected to build MICE properties that, aside from casinos, will also include some of the nation’s largest hotels, conference and exhibition facilities, non-gambling attractions, and multiple other amenities.
Source: GMB / Casino News Daily
