The groundbreaking ceremony was attended by representatives from both MGM Resorts International and Orix Corp, as well as by the governor of Osaka
MGM Osaka, Japan’s inaugural integrated resort, has just hosted its groundbreaking ceremony. Despite the multiple delays, construction is currently underway, marking a monumental achievement for the casino industry.
The Event Was Attended by the Osaka Governor
The $8.9 billion resort is the brainchild of MGM Resorts International and its local partner, Orix Corp, which have a 42.5% stake each. As mentioned, it would serve as Japan’s first integrated resort, heralding a new era for tourism in the Land of the Rising Sun.
The 52-acre property is being constructed on Yumeshima, a 700-acre artificial island in Osaka Bay. When completed, it will sport some 2,500 hotel rooms, allowing it to accommodate thousands of visitors. In addition to that, MGM Osaka will feature a vast array of facilities and entertainment options, including a 330,000-square-foot exhibition area, a 400,000-square-foot conference facility and a 3,500-seat theater.
The MGM Osaka casino itself will take approximately 3% of the entire indoor space, further highlighting the monumental size of the project.
The groundbreaking ceremony, which just took place, was attended by representatives from both MGM Resorts International and Orix Corp. In addition to that, the event was attended by Hirofumi Yoshimura, the governor of the Osaka prefecture.
The Project is Set to Open in 2030
MGM Osaka is set to be completed and open by the third quarter of 2030 unless further delays impede the development. The project already experienced certain delays amid continued negotiations, legislative setbacks and COVID-related hurdles.
Local news outlets believe that the upcoming Expo 2025 Osaka would lead to further delays to the construction, potentially postponing the planned opening. For reference, the expo will prevent developers from using heavy machinery during the event.
MGM, however, has so far remained certain that it is still on track to open the resort in time.
Osaka Wary of Overtourism
In other news, the Osaka Prefecture recently expressed overtourism-related worries, citing concerns about the future coexistence of tourists and residents. Some of these concerns were echoed by governor Yoshimura who proposed a new fee that would be separate from the lodging tax that both foreign nationals and Japanese visitors have to pay.
For context, the aforementioned accommodation tax requires guests staying at lodgings costing over ¥7,000 a night to pay a fee of between ¥100 and ¥300.
Yoshimura noted that the proposed fee would be roughly the same as the lodging fee. He elaborated that the proceeds from the new tax would be used to fight overtourism and keep the tourist areas clean.
