• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 7 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Osaka reveals US$1.3 billion initial IR development cost blowout as opening date pushed back to 2030

Ben Blaschke by Ben Blaschke
Wed 6 Sep 2023 at 06:01
MGM Resorts unveils Osaka IR concept

An artist’s impression of Orix and MGM’s Osaka IR.

35
SHARES
874
VIEWS
Print Friendly, PDF & Email

The initial investment required to develop an integrated resort in Osaka is expected to increase by around US$1.3 billion as a result of soaring prices for construction materials, officials announced Tuesday.

The amendment to Osaka’s area development plan has also revised the opening date of the IR – to be developed by consortium led by MGM Resorts and its local partner ORIX – by a year from autumn 2029 to autumn 2030, according to The Japan Times.

The delay, authorities noted, was due to the central government initially taking a year to approve the Osaka-MGM proposal. Another proposal by Nagasaki and its preferred partner Casinos Austria remains in limbo with the central government allegedly seeking more information around funding.

While MGM Resorts has touted a near US$10 billion investment to build its Osaka IR, Osaka officials said Tuesday that the initial investment required has originally been estimated at JPY 1.08 trillion (US$7.31 billion) but this had now increased to JPY 1.27 trillion (US$8.60 billion).

The revised plan has been forwarded to the central government for approval before Osaka and the MGM-ORIX consortium can finally sign a long-awaited implementation agreement.

The delay to the resort’s opening date comes as no surprise, with MGM Resorts CEO and President Bill Hornbuckle having stated in May that he didn’t expect the Osaka IR to open in 2029. Osaka Governor Hirofumi Yoshimura also acknowledged in July that a 2029 opening would be “difficult”.

RelatedPosts

Internet casino in Tokyo’s Shinjuku shut down

Japan asks eight countries to block its citizens from gambling on online sites

Wed 18 Jun 2025 at 07:00

Sega Sammy chairman Hajime Satomi named in Japan’s Top 50 rich list

Tue 3 Jun 2025 at 12:04
Japan’s Dynam reopens 101 pachinko halls after some closure requests lifted

Dynam Japan continues pachinko hall rationalization as revenues fall again in FY25

Tue 27 May 2025 at 06:45
Two-day Japan IR Online Forum to start today

Japanese said to have gambled US$45 billion on illegal overseas betting sites in 2024

Fri 23 May 2025 at 05:51
Load More
Tags: integrated resortJapanMGM ResortsOsaka
Share14Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

DigiPlus launches US$106 million share buyback scheme

DigiPlus launches US$106 million share buyback scheme

by Newsdesk
Mon 7 Jul 2025 at 10:17

Philippine gaming technology firm DigiPlus Interactive Corp has announced the launch of a Php6 billion (US$106 million) share buyback scheme that it says highlights the company’s confidence in its long-term growth prospects. Notably, the announcement comes just days after company...

Star to open AU$3.6 billion Queen’s Wharf Brisbane development on 29 August

Star’s Hong Kong partners offer one month reprieve to complete Queen’s Wharf Brisbane deal

by Ben Blaschke
Mon 7 Jul 2025 at 08:55

A deal to offload its 50% stake in the AU$3.6 billion (US$2.4 billion) The Star Brisbane integrated resort at Queen’s Wharf is still on the table for Star Entertainment Group after revealing Monday that its Hong Kong partners have granted...

Inside Thai IRs

Thai government may formally withdraw casino bill from House agenda citing need for new cabinet to review

by Newsdesk
Mon 7 Jul 2025 at 05:20

The Thai government will consider formally withdrawing its controversial Entertainment Complex Bill from the House agenda this week in order to allow a thorough review by the newly appointed cabinet, said Deputy Finance Minister Julapun Amornvivat. The bill could be...

JP Morgan analysis says Bangkok IRs could generate combined US$5 billion annually

Thai authorities arrest 70 in bust of illegal Bangkok gambling den

by Newsdesk
Sun 6 Jul 2025 at 14:41

With the prospect of legal casinos in Thailand looking more remote by the day, authorities have arrested more than 70 people after busting an illegal gambling den in the Phahon Yothin area of Bangkok. According to The Bangkok Post, the...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English