MGM Resorts International has announced that the area development plan (ADP) submitted last year has now been certified by Japan’s Ministry of Land, Infrastructure, Transport and Tourism, paving the way for the development of a resort.
The plan was submitted in 2022 by Osaka Prefecture/City and Osaka IR KK, which is a joint venture (JV) between MGM Resorts Japan and ORIX Corporation (Orix).
Go deeper with GlobalData
Under the country’s Integrated Resort Development Act, the certification is seen as one of the final steps for the licensing process and enables MGM Resorts Japan and Orix to finalise agreements with Osaka Prefecture/City to build a new development project costing approximately $10bn.
MGM Resorts CEO & president Bill Hornbuckle said: “It is an honour to be selected by the Government of Japan to develop a tourism project of this scale.
“We couldn’t be more excited to get started on the development of one of Japan’s first Integrated Resorts in the great City of Osaka and we look forward to working with our partner ORIX and Osaka Prefecture/City to realize this long-held goal.”
As part of the licensing submission process, details of the proposed development were unveiled in 2022. The specifics indicate MGM’s plan to bring a ‘world-class’ resort experience to Osaka.
The proposed resort is expected to transform the region into one of the foremost entertainment and hospitality destinations in the world and also act as a hub for tourism across the country.
