Osaka discuss draft environmental assessment report by Osaka IR KK for proposed IR

A public hearing was conducted on Saturday in the Japanese city of Osaka to review the draft environmental assessment study by Osaka IR KK for the proposed Yumeshima integrated resort (IR).

After reviewing the hearing results, Osaka IR KK, a partnership made up of MGM Resorts International, Orix Corp. of Japan, and other local investors, will determine if more research is necessary. This summer is when the final assessment report is expected to be released to the public.

Twelve people from the public, including representatives of anti-casino organizations, testified at the session. In a draft environmental report released on October 27, 2023, Osaka City said that “the targets of environment conservation have been satisfied in all items and aspects.”

Work at the Yumeshima site started in December, as stated in a statement from Osaka city and prefectural authorities, with an emphasis on lowering the risk of soil liquefaction and other land-related issues.

In other MGM Osaka-related news, the prefecture and the city will co-host a “IR business seminar” on January 18th, which is being organized by the Osaka Chamber of Commerce and Industry. The chamber, one of Osaka’s three major economic organizations, mostly represents small and medium-sized enterprises. The other two, the Kansai Association of Corporate Executives and the Kansai Economic Federation, are well-known for mostly representing important Osaka-based businesses. The MGM Osaka IR project has garnered support from all three organizations, who point to its possible benefits for the local and regional economy.

The initial investment cost for MGM Osaka would rise by JPY 190 billion, or around US$7.48 billion today, according to a September report from Osaka government.

Original story by: GGRAsia