Japan – Osaka to kick-start search for casino partner ‘early next year’By Phil - 13 December 2018
Osaka Governor Ichiro Matsui has confirmed the Japanese prefecture, one of the forerunners in the race for one of Japan’s three IR licences, will start its own selection process to find a casino operator ‘early next year.’
Although there are no guarantees, Osaka has long been tipped to host one of the initial IRs.
Governor Matsui said to local news agency Kyodo: “We will shortlist candidates by starting to assess their plans and willingness to invest early next year.”
Governor Matsui met with Las Vegas Sands President and CEO Robert Goldstein and Osaka Mayor Hirofumi Yoshimura earlier this month although there are believed to be eight international casino operators, including Caesars, Hard Rock, Melco, MGM, and Wynn looking to work in the city. The plan is to develop a casino resort on Yumeshima, an artificial island in the prefecture, that will host World Expo 2025.
An Integrated Resort in Osaka would have to earn US$4bn a year in order to generated a 14-per cent yearly return on a US$8bn investment, according to Morgan Stanley.
Caption: Osaka Governor Ichiro Matsui