Osaka and Nagasaki prefectures submitted their Integrated Resort (IR) bids to the Japanese government for area development plans on Tuesday. The submission of the two bids is two days prior to the government’s final deadline, i.e, 28th April, when the third potential bidder Wakayama withdrew from the bidding process, following the rejection of the area development plan by the prefectural assembly.
As per law, Japan can only approve a maximum of two IRs under its first round rather than three. Osaka’s bid with Osaka IR is a special purpose company (SPC), led by MGM Resorts International and ORIX Corp. The development plan of the Osaka IR is to open on Yumeshima Island by the autumn or winter of 2029.
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It is estimated that 20 million visitors are expected with annual sales of JPY 520 billion (US$4.1 billion) and yearly economic ripple effects of JPY 1.14 trillion (US$9.0 billion). Consortium members include Panasonic, Kintetsu Group Holdings, NTT West, and Kansai Electric Power, while the other investors are Taisei Corporation, Osaka Gas, Obayashi, Takenaka Corporation, JR West, and JTB.
The bid placed by Nagasaki is for an IR alongside Dutch-inspired theme park Huis Ten Bosch, located in Sasebo city. This park is led by Casinos Austria International Japan. Annual sales in the fifth year after opening are estimated to reach JPY 272 billion (US$2.1 billion) with an estimated 6.73 million annual visitors and a ripple effect of JPY 323 billion (US$2.5 billion).
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Manthra Koliyer is a writer at Gutshot Magazine. She has an affinity for seeing the world through people’s eyes. With a bubbly fun personality, you can always catch her chatting with anyone she comes across. Holding an English Literature degree from Wilson College, Mumbai, and a Post Graduate Diploma in Journalism from Asian College of Journalism, this pop culture fanatic is ready to take on the world with a pen, paper, and microphone. She also actively works on her personal blog called namasteyconvict.blogspot.com, where for a moment she lets you into her drama-filled world.
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