MGM Osaka casino resort project kicks off construction work at Yumeshima site

The commencement of construction at the Yumeshima site in Osaka Bay marks a significant milestone for the MGM Osaka casino resort project in Japan.

The project, which is being handled by contractors Takenaka Corp and Obayashi Corp on behalf of Osaka IR KK, is a collaboration between US-based casino operator MGM Resorts International, Japan’s Orix Corp, and several smaller investors.

After a project implementation agreement, including the timeline for both ground preparation and construction, is signed in September, work will start. As per the agreement, the construction preparation phase is scheduled to start in the summer of 2024. Osaka’s overarching goal to develop Yumeshima into a prosperous integrated resort includes this project.

Although the resort is anticipated to open as early as autumn 2030, expenditures associated with the first JPY1.08 trillion (about US$7.34 billion) investment may increase by an additional JPY190 billion. The municipal administration of Osaka has agreed to reimburse Osaka IR KK for the soil preparation work, provided that the implementation agreement remains in effect.

A maximum of JPY78.8 billion has been set aside by the government to address land-related issues such subsurface obstacles, soil contamination, and liquefaction. A specific budget of JPY41.0 billion has been set out to address soft ground issues. In terms of Osaka’s ambition to become a premier hotel, gaming, and entertainment destination in Japan, the whole project is seen as a game-changer.

Original story by: GGRAsia