Japan Approves Ambitious $13.5 Billion Casino Project, A Game-Changer for Country’s Tourism Industry

• 23 April 2023
• International News
• 7422 Views

The Japanese government has given the green light to the country’s first-ever legal casino project, set to transform the nation’s tourism industry. The initial investment cost for the ambitious project is estimated to be 1.8tn yen (approximately US$13.5 billion) and is expected to be completed in 2029.

According to The Guardian, the MGM Resorts International and Orix-led casino complex in Osaka is projected to attract over 20 million local and international tourists annually, bolstering the economy and creating up to 15,000 jobs.

Japanese Prime Minister Fumio Kishida said that “the project would be a catalyst for economic growth in the Osaka region and will serve as a platform to showcase Japan’s unique culture to the world.”

The complex, which includes a hotel, international conference hall, exhibition facilities, and a theatre, will elevate Japan’s tourism industry and position it as a global tourism hub.

The Osaka government estimates the project will have an annual economic impact worth 1.14tn yen and generate sales of 520bn yen. With this groundbreaking project, Japan is viewed to become one of major players in the global gambling and tourism industries.

• Economy and Finance
• Tourism and Travelling
• casino