Japanese Prime Minister Fumio Kishida said his government has approved a plan for the country’s first casino, Jiji Press reported Friday.
(Bloomberg) — Japanese Prime Minister Fumio Kishida said his government has approved a plan for the country’s first casino, Jiji Press reported Friday.
Local authorities had submitted a proposal for a so-called integrated resort in Osaka with hotels and conference venues as well as gambling facilities. Jiji reported earlier in the week that it was scheduled to open in late 2029.
Japan’s Orix Corp has been working on the project in partnership with MGM Resorts International. The plan still faces the remaining hurdle of obtaining a casino license before it can open its doors.
Met with stubborn public opposition and wrangling over government regulation, Japan’s casino ambitions have fallen years behind initial plans. Big names like Caesars Entertainment Inc. and Las Vegas Sands Corp. pulled out of their bids for a share of a potential $20 billion market.
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But Japan sees casinos as key to supporting a recovery in tourism as the industry recovers from the pandemic. The government is slated to approve up to three integrated resort locations, according to Jiji, with a bid submitted by Nagasaki prefecture still under review.
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