On July 18, 2023, Osaka Gov. Hirofumi Yoshimura said the integrated resort and casino facilities on Yumeshima Island will be difficult to open until 2029. He fretted that the Osaka resort, where such facilities will be the first and only in the country, has taken too long to get all the government approvals it needs to achieve the desired milestone in 2029.
A shared understanding of the delay:
Yoshimura said the resort could open later than originally planned, and such assumptions represent “shared interests of those involved,” according to Reuters and IAG. The governor added, “So far, I’ve only mentioned the possibility of delays.” However, the Osaka governor’s statement could be understood to have reaffirmed an announcement earlier this year, similar to MGM Resorts CEO and President Bill Hornbuckle’s announcement that the Osaka Unified Resort is expected to open in the second quarter of 2030.
Expected to open in 2030:
“We are aiming to start construction at the end of this year or in the first quarter of next year, with construction going on between four and a half years and five years,” Hornbuckle was quoted as saying in May. “We have some time because we’re going to open in the first or second quarter of 2030. There’s obviously a lot of work to do, and that’s the normal time because it’s an artificial island in terms of boring.”
However, according to a statement from an MGM Resorts executive, the four-and-a-half to five-year construction period has certainly allowed additional time for emergencies, which are most likely to occur within the given timeframe. However, as IAG reported, there have been announcements that the facility may be operational in 2029 anyway. As MGM executives have pointed out, we can speculate that major work will be completed by the end of 2029, and that it could have a six-month window for fine-tuning and launching the facility in the second quarter of 2030.
Stakeholders who want to open early:
The $10 billion resort, which MGM Resort and Orix will develop on a 490,000-square-meter site in northern Yumeshima, is expected to attract about 20 million visitors each year and generate about $3.6 billion in revenue. For this reason, stakeholders are anxious to use the resort as soon as possible.
Emergency:
While staffing shortages have been a major concern for contract partners at the Osaka resort, paperwork appears to be even harder. According to IAG, the Osaka government recently extended a deadline for MGM and Orix to sign their respective implementation agreements until the end of September 2023. The move is expected to extend the period of formal termination of the original agreement signed by operating partners and Osaka authorities in 2022.
Possible options:
Therefore, opening the only resort in Osaka will not be possible in 2029. However, casino development will likely open the doors to athletes and visitors around the world in the second quarter of 2030.
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