Japan has approved plans to construct its first casino resort in Osaka, slated to open in 2029. Despite controversies, officials expect it to provide economic benefits.
Key Takeaways
- Japanese officials have approved the country's first casino resort, set to open in Osaka by 2029.
- The resort, backed by a $13.5 billion initial investment, aims to boost tourism and job creation.
- Public opinion remains divided, with concerns about increased crime and gambling addiction.
Casino – A New Chapter in Japanese Entertainment and Tourism
In a move that has sparked both enthusiasm and debate, Japanese officials have said “yes” to building the nation’s first-ever casino resort. This massive entertainment complex will rise in the heart of Osaka by 2029, marking a significant shift in the country’s stance towards gambling.
For years, the house always lost in Japan—casinos were illegal. But in 2018, the law changed to allow certain games like poker and baccarat, as part of an initiative to create jobs and lure tourists.
What’s in the Cards for This Mega Resort?
It’s not just about rolling dice and shuffling decks. This colossal 5.3 million square-foot development plans to be a lot more than just a casino. Picture a luxurious hotel, a bustling conference center, a chic shopping mall, and even a museum. “We hope it will become a tourism base that promotes Japan’s charms to the world,” Prime Minister Fumio Kishida optimistically stated.
Japan has approved plans to construct its first casino resort in Osaka, slated to open in 2029. Despite controversies, officials expect it to provide economic benefits.
The Big Players and Even Bigger Stakes
The casino project is hardly small change. The initial pot? A whopping 1.8 trillion yen (or $13.5 billion, if you’re counting in dollars). MGM, a US-based casino operator, and Japan’s Orix Group are the major players, each owning a 40% slice of this extravagant pie. The remaining 20% will be local flavor—companies like West Japan Rail and Osaka-based Panasonic.
Expectations and Concerns: A Double-Edged Sword
Officials are betting big on this resort, forecasting that it will draw around 20 million visitors each year and rake in approximately 1 trillion yen in economic benefits for the Osaka region. Japan, already the world’s third-largest economy, is seen as a fertile ground for the gambling industry, especially considering its close proximity to wealthy gamblers in Asia, particularly from China.
However, not everyone is ready to roll the dice on this one. Critics and concerned citizens have raised their voices against the potential rise in crime and gambling addiction that the casino might bring to the Japanese archipelago.
Other Bids on the Horizon?
Don’t cash in your chips just yet. This Osaka venture isn’t the only game in town. Nagasaki Prefecture has submitted a similar proposal to build a new casino at Huis Ten Bosch, a Dutch-themed amusement park. So it looks like Japan is all set to raise the stakes in the global entertainment and gambling scene.
