{"id":134085,"date":"2023-12-08T12:39:02","date_gmt":"2023-12-08T15:39:02","guid":{"rendered":"https:\/\/igamingbrazil.com\/uncategorized\/2023\/12\/08\/construction-of-the-first-casino-in-japan-5-years-after-legalization\/"},"modified":"2023-12-08T12:43:31","modified_gmt":"2023-12-08T15:43:31","slug":"construction-of-the-first-casino-in-japan-5-years-after-legalization","status":"publish","type":"post","link":"https:\/\/igamingbrazil.com\/en\/casino-en\/2023\/12\/08\/construction-of-the-first-casino-in-japan-5-years-after-legalization\/","title":{"rendered":"Construction of the first casino in Japan 5 years after legalization"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Construction of the first <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\">casino<\/a> in Japan begins five years after the legalization of gambling in that country.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Japan\">Japan<\/a> legalized commercial gambling with up to three integrated resort (IR) casinos in July 2018. Nearly 2,000 days later, construction on the first <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> project is officially underway.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MGM Resorts International, through its joint venture with Japanese financial services conglomerate<strong> Orix Corporation<\/strong>, has signed its formal IR development with the City of Osaka and Osaka Prefecture.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agreement took place at the <strong>end of September<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>MGM<\/strong> and Orix are equal 42.5% partners in Osaka IR Corporation, with the remaining 15% controlled by smaller investors including Panasonic, Kansai Electric and West Japan Railway.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Osaka IR Corporation<\/strong> has officially started construction with an investment of US$8.6 billion with site preparation in <a href=\"https:\/\/en.wikipedia.org\/wiki\/Yumeshima\">Yumeshima<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In other words, Yumeshima, an artificial island in Osaka Bay will have the 2 thousand square meter <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/2021\/09\/29\/mgm-resorts-announces-construction-of-new-casino-resort-in-osaka\/\">casino resor<\/a>t. The island spans almost 2,800 meters and has been used mainly as a container port.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Therefore, site preparation costs are expected to be <strong>US$173 million<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Osaka IR Corp. is financing land preparation work, but the Osaka city government has committed to reimbursing the company upon completion of the resort.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Years of delay for construction of first casino in Japan<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When<strong> Japan<\/strong> passed its <strong><a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> law<\/strong> <strong>in July 2018<\/strong>, the country caught the attention of major <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"casino\">casino<\/a> operators around the world.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The country was, at the time, considered the biggest market opening since Macau, China.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Along with <strong>MGM<\/strong>, casino giants that expressed interest in obtaining one of the three casino licenses included <strong>Las Vegas Sands, Caesars Entertainment<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the same way as <strong>Wynn Resorts, Hard Rock International and Mohegan<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The delay in regulation in Japan after the approval of the casino law caused these companies to lose much of their enthusiasm.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, the COVID-19 pandemic further delayed Japan&#8217;s National Policy in finalizing casino regulations and bidding processes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Las Vegas Sands<\/strong> and its founder and <strong>CEO Sheldon Adelson<\/strong> finally had enough, and in May 2020 they shocked the global gaming industry by announcing their withdrawal from Japan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, the company was, at the time, the world&#8217;s largest casino operator by gaming revenue and was heavily considered the favorite for one of the three licenses in Japan.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adelson, who <strong>died in January 2021<\/strong>, said at the time that Japan&#8217;s structure \u201cmade our goals unachievable.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">MGM Osaka and casinos<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The opening of <strong>MGM&#8217;s Osaka IR<\/strong> will feature three hotels from three different brands, offering approximately 2,500 rooms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The complex will feature 210,000 square meters of space for conventions and attractions that \u201cpresent the best of Osaka and Japan.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Therefore, MGM Osaka&#8217;s gaming floor will be limited to 3% of the IR&#8217;s total indoor square footage as determined by the 2018 gaming law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Osaka IR Corp. aims to<strong> open in 2030<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Japan has only one other IR offer pending from <a href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/2023\/11\/09\/nfls-san-francisco-49ers-enter-into-partnership-with-foliatti-casino\/\">Casinos<\/a> Austria in Nagasaki.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ultimately, the gaming company wants to build a roughly $3 billion gaming destination at the Huis Ten Bosch theme park in Sasebo.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction of the first casino in Japan begins five years after the legalization of gambling in that country. Japan legalized commercial gambling with up to three integrated resort (IR) casinos [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":134069,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3069],"tags":[3584,3754,3415,7638],"class_list":["post-134085","post","type-post","status-publish","format-standard","has-post-thumbnail","category-casino-en","tag-casino-en","tag-gambling-en-2","tag-japan","tag-osaka-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Construction of the first casino in Japan 5 years after legalization - iGaming Brazil<\/title>\n<meta name=\"description\" content=\"The construction of the first casino in Japan takes place five years after the legalization of gaming in that country, in Osaka, by MGM Resorts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/igamingbrazil.com\/en\/casino-en\/2023\/12\/08\/construction-of-the-first-casino-in-japan-5-years-after-legalization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction of the first casino in Japan 5 years after legalization - 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