Japan's First Casino Plans, Drawing Inspiration from Singapore's Success.

Janak9955

While gambling may become a source of revenue, the operation of the Osaka Resort may face some limitations due to limited facility capacity. The Japanese government hopes to boost economic growth and create job opportunities with this integrated resort project, including the operation of entertainment centers like casinos.

Japanese Prime Minister Fumio Kishida emphasized the importance of the integrated resort for Japan to become a tourism powerhouse, and this project is expected to contribute to the country's development. The integrated resort will offer entertainment facilities such as accommodations, theaters, casinos, and convention centers. It will be located on the artificial island of Yumeshima and is projected to attract 20 million visitors annually, generating ¥520 billion in revenue.

The integrated resort is operated by a joint venture called Osaka IR, consisting of 20 investors, including MGM Resorts International, Orix, Panasonic Corporation, and Daikin Industries. Annual tax revenues and other income for Osaka City and Osaka Prefecture are expected to reach ¥106 billion, and the Kansai region is projected to achieve ¥1.1 trillion in annual economic growth, creating 93,000 job opportunities.

Osaka Mayor Hidetoshi Yoshimura stated that this project will be a turning point for Osaka. The resort will emulate the integrated resort model of Singapore, attracting visitors from around the world. However, casinos can only account for 3% of the integrated resort, which may pose limitations on a sustainable profit model, as Osaka aims to attract more than 16 million visitors annually. Additionally, the project may face challenges related to preventing gambling addiction.

977Iti

It seems that many countries are looking to increase their revenue through casinos.

Sona59

The key point is whether the locals will be allowed to enter. Japan is planning to establish a casino in the major city of Osaka, indicating that the economy might indeed be struggling and in need of foreign exchange.

Kahn332

Japan joining the ranks is quite surprising. I'm curious to see how the Japanese will gamble.

Kalkin995

It seems that several Asian countries have legalized gambling.