Japan Breaks Ground on First Casino: MGM Resorts and Orix Venture Takes Shape

Construction has kicked off with preparations to fortify the land, costing approximately $173 million. Although the property owners are covering the initial expenses, the local government has committed to reimbursement once the ambitious $8.6 billion project reaches completion. The 52-acre development will grace Yumeshima, a 700-acre artificial island in Osaka Bay.

The finished resort, expected to welcome guests in 2030, will boast three hotels from distinct brands, offering a total of 2,500 rooms. Beyond the allure of gaming, the complex emphasizes boosting local tourism, featuring a sprawling 730,000-square-foot convention space. Surprisingly, the casino will occupy just 3% of the total indoor space, highlighting the project's broader impact.

The Osaka IR Corporation, co-owned by MGM Resorts and Orix with 42.5% stakes each, spearheads the resort's development. A new law in 2018 paved the way for such endeavors, relaxing Japan's historically stringent stance on gambling. Despite legislative delays and the pandemic, MGM Resorts persevered, with the Osaka IR Corporation set to welcome its first guests in 2030.

While MGM Resorts forges ahead, Casinos Austria eyes Japan's potential, eyeing a $3 billion resort in Nagasaki. Although the Osaka IR Corporation leads the integrated resort charge, competition signals a broader transformation of Japan into a global tourism and entertainment hub.