Osaka revises IR Implementation Policy
Osaka has revised its Integrated Resort (IR) Implementation Policy, which includes the opportunity for more operators to apply.
The joint group of MGM Resorts International and ORIX is currently the only participant in Osaka’s operator recruitment. It has now, however, been given the opportunity to amend its application, with the new revisions also allowing further operators to apply.
New operator applications are now open until March, with final proposals due in July. Wynn Resorts, Las Vegas Sands, Melco Resorts & Entertainment, Genting Singapore and Galaxy Entertainment Group have previously withdrawn their interest in the IR.
Japan’s IR Implementation Act requires IRs to integrate a casino, exhibition facilities, international conference halls and large hotels under the same roof, with the exhibition facility and hotel accommodations required to cover at least 20,000 and 100,000 square metres respectively.
Osaka’s Implementation Policy has continuously been in line to meet such standards, but has now for the first time announced a “preparation in stages” approach.
Despite being heavily impacted by the ongoing coronavirus pandemic, MGM Resorts International remains committed to the IR. President and CEO Bill Hornbuckle last week said: “We’ve been in that marketplace a long time. We’re a believer in Asia. We’re a believer in Japan.
“We’ve spent a lot of time and energy becoming the sole one standing at the gate, if you will, in Osaka.”
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