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Osaka IR Casino launch date delayed to 2028

Content Team June 5, 2020
Osaka IR Casino launch date delayed to 2028

Project push backs brought by the impacts of COVID-19

Mayor Ichiro Matsui on Thursday disclosed that,?Osaka’s?Integrated Casino project?has pushed back its request-for-proposal (RFP) deadline to another six months, from July 2020 to January 2021,?and the move?could delay the?opening of the IR casino resort?until?2028,?brought by the impacts of the coronavirus pandemic.?

“I have received a message from the operator asking?for a short extension,” Matsui stated.?“The investment capacity of the operator has taken a blow, and we will consider this when we are determining an opening time. I can foresee an overall delay of between one and two years” he added.?

Mayor Ichiro Matsui foresees an overall delay of between one and two years.

Initially, Osaka wanted to?to open the IR?casino before the World Expo 2025, but delays in both the legislative process and the RFP phase have made that impossible.?Still,?Osaka targets to open the casino resort?on the artificial island of?Yumeshima?in Osaka Bay.?

In line with this, the?Wakayama prefecture has also pushed back it’s?RFP deadline from 31 August to 19 October of 2020, but the?prefecture is eager to?open the?IR by 2025.?

MGM Resorts?International, along with its partner?Orix, a Japanese financial services group, remains the only company to have submitted a?qualified application?to develop an Osaka integrated resort.??

Last month,?Joji?Kokuryo, managing director of Bay City Ventures in Tokyo, told?The Japan Times.?Assuming that travel restrictions are eased enough within the next two months, there is just enough time for local governments to select their IR partner and come up with a reasonably sound business plan to submit to the central government,”?

On May, Las Vegas Sands chairman and CEO Sheldon Adelson cited?“the framework around the development of an IR has made our goals there unreachable.”?Prompting to the?US casino?to drop out of the Integrated Resort race in Japan, after years of pursuit to be one of the casino?operators?in the country.?

Despite that withdrawal,?MGM, Melco Resorts, Wynn, Genting, Hard Rock, and other major operators are still intrigued by the IR project in Japan, with Tokyo and Yokohama considered as the most favored locations for a resort by the major operators.?

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