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Japanese Govt Receives IR Bids From Osaka And Nagasaki Gaming
Manthra Koliyer
Posted on 27 Apr, 2022
By Manthra Koliyer
On 27 Apr, 2022
By Manthra Koliyer
On 27 Apr, 2022

Japanese Govt Receives IR Bids From Osaka And Nagasaki

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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