Japan’s First Casino Finally Breaks Ground on $9B Resort
MGM Targets 2030 Opening for Its New Osaka Resort
Project Has Been a Dream for Years
The first casino in Japan is on its way toward becoming a reality. On April 24, ground was broken for the MGM Osaka, a venue that is targeting a launch in 2030. In casino news, it will take five years for the Japanese people to play for real money at a casino.
Plans for the cash casino make it sound like it will be well worth the wait. There will be 2,500 hotel rooms transcending three brands (MGM Osaka, MGM Villas, and MUSUBI Hotel). Additionally, there will be a 3,500-seat theatre for entertainment purposes, 400K square feet of meeting and exhibition space, a spa and fitness center, dozens of restaurants and bars, a shopping mall, a public park, and a dedicated facility promoting tourism throughout Japan are among the many other resort amenities, per Casino.org.
MGM-Orix Consortium Breaks Ground on Historic $9 Billion Integrated Resort Development in Osaka, Marking a New Era for Japan’s Tourism and Entertainment Industry.
MGM Osaka will when complete, become Japan’s only licensed IR casino pic.twitter.com/EQuxC0qSDS
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Now, while the complex sounds amazing, there are still gambling regulations around how much space the actual casino floor can account for in the venue. The casino can only occupy 3% of the resort’s indoor square footage. That still is enough room for 2,000 slot machines and 200 table games.
There Will Be a Cost to Enter the Casino
Unlike casinos in the United States, where patrons are able to enter for free, there will be a cost for Japanese people to play at the venue. The price to play in the shop will be $21 as an entry fee. However, if you are a resident of Osaka, that will double to $42. The goal is to dissuade Osaka residents from spending too much time and money playing at the casino.
One other fascinating element is the actual location of the casino complex. It is being built on Yumeshima in Osaka Bay, which is a man-made island.
Japan’s first casino is on the way.
A group including MGM Resorts has won government approval to build a casino in Osaka.
The casino comes with an $8.1 billion price tag and will be built on an artificial island. Construction is scheduled to be completed by 2029. pic.twitter.com/KPKc2QRfXS
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The projections are for nearly $6 billion in annual gaming revenue. If that level is reached, Japan would become the third-largest gaming market behind the United States and Macau. That is a stunning stat when one considers it would be one casino.
Gambling Laws in Japan
This is a huge step toward legalized gambling in Japan. The country has long banned private gambling and casinos. However, there was movement in 2018 when the government passed an integrated resort law that will allow as many as three such spots in the country. This would be the first time people will be allowed to play for real money in a casino.
The actual target date of autumn 2030 could be ambitious. A lot of heavy machinery is dedicated through this October to an international expo event in Osaka. That could stall the project for MGM Osaka and delay its actual opening.
“It’s possible to realize the IR project while minimizing the impact on the Expo,” Osaka Governor Hirofumi Yoshimura told reporters, expressing hope that the resort will open in 2030.
No matter when the ribbon is cut and the first patrons enter MGM Osaka, it is the start of a new era in Japan, a country that is known for its rigid laws and structure. This is a major step toward gambling becoming a part of the entertainment scene in the Far East power.
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