Japan Approves Osaka As Home To The Country'S First Casino Due To Gambling Concerns

1. Previously, Casinos And Other Private Gambling Were Illegal In Japan, Except For Casino Games Such As Poker Or Baccarat Under A 2018 Law
2. Opponents Of The Long-Debated Plan Are Expected To Continue Their Campaign To Halt Construction Before Yumeshima Is Scheduled To Open In Late 2029

A Series Of Ldp Governments In Tokyo Have Been Promoting Casinos As An Alternative Way To Attract More Foreign Tourists To Japan. Photo: Shutterstock

Japan On Friday Approved Plans To Build The Country'S First Casino In The Western City Of Osaka, Paving The Way For The Construction Of A Major Resort Designed To Attract Domestic And Foreign Tourists To Spend Money.

The Project, Proposed By Osaka City And Osaka Prefecture, Aims To Open A Casino, Convention Center And Other Facilities In 2029 With An Initial Investment Of 1.8 Trillion Yen ($13.5 Billion).

Mgm Resorts International And Local Partner Orix Corp Are Spearheading The Project, Each Owning A 40 Percent Stake In The Company, Which Aims To Manage The Complex.

Another 20 Companies Hold The Remaining 20 Percent, Including Osaka-Based Matsushita Electric, Kansai Electric Power And West Japan Railway, According To Local Government Documents.

The Plan Has Long Been Controversial, And Opponents Are Expected To Continue Their Campaign To Halt Construction On The Man-Made Island Of Yumeshima Before It Is Scheduled To Open.

The 492,000-Square-Meter Resort Complex Will Also Include A Hotel, Shopping Center And Ferry Terminal. Japan Will Host The World Expo On The Island In Osaka Bay In 2025.

Project Documents Show The Resort Is Targeting 520 Billion Yen In Annual Revenue, Mainly From Gaming Operations, And Is Expected To Attract 6 Million International Visitors And 14 Million Domestic Tourists.

The Ldp Government Is Looking At Casinos As Another Way To Attract Foreign Tourists To Japan, And Tourism Is Becoming Increasingly Important In The Government'S Economic Strategy.