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Kansai leader suggests Osaka may need to “reassess” IR plans

Tomo Yamamoto by Tomo Yamamoto
Wed 27 May 2020 at 05:21
MICE named key IR feature as Osaka confirms expected US$8.4 billion investment in “world’s greatest growth IR”
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Osaka may need to reassess its plans for an integrated resort, including potentially downsizing its previous investment expectations, as a result of the global impact of COVID-19, according to the Managing director of Kansai Association of Corporate Executives.

Ken Furuichi, who is also Vice Chairman of Nippon Life Insurance Co Ltd, told the Mainichi Shimbun that the spread of coronavirus may change the world forever with governments and business needing to adapt to a new reality.

“In a post-coronavirus world, we will have to reassess things to see if they can be realized in their current form,” he said. Furuichi added that MGM Resorts International, the sole contender to develop an Osaka IR, and the prefecture were already looking at their options, including reducing the scale of the IR they hope to build on Osaka’s Yumeshima Island.

Likewise, Furuichi said the 2025 World Expo in Osaka should be transformed into a global celebration with identical events held concurrently around the world. His proposal is to offer the same experience as that on Yumeshima in venues across the world, including Tokyo, Paris, Los Angeles and others, using the latest communication technology.

“It would be the first Expo held in collaboration will all corners of the world at the same time,” he said.

The Bureau International des Expositions (BIE), which oversees the expo, has previously expressed its preference for keeping the event at one venue.

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Tags: integrated resortirJapanKen FuruichiMGM Resorts InternationalOsakaWorld ExpoYumeshima
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Tomo Yamamoto

Tomo Yamamoto

Born in Okayama, Japan in 1964, Tomo has covered horse racing, professional baseball, golf, boxing and more in his role as a sports writer. He first encountered casinos before Macau was returned to China in 1999. He has traveled to South Korea and Manila to cover events and scope out the local scene. He has studyied “How to get along with casinos,” a topic he learned of from Osaka University of Commerce.

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