Much of casino news we get from Japan is about the proposed Integrated Resorts, or IRs. Prefectures across the country are submitting proposals to the central government. This is to be able to host the locations of the three planned IRs. One of the more vocal areas to lobby for an IR grant is Osaka. Osaka, last year alone, was host to more than 12 million tourists. And if the prefecture gains an IR, then this number could substantially increase in the next few years.
Osaka IR to Benefit Local Economy
Officials from Osaka predict that by having an IR built, they can have as much as 24.8 million visitors – and this number does not include tourists who are in Osaka for other purposes. The prefecture commissioned a study on the IR and how the IR will affect the area. And if this happens, Osaka can contribute as much as $6.87 billion to the country’s economy.
The plan, called Osaka IR Fundamentals Plan, or OIRFP, has a few initiatives for the IR. Which can accommodate a development of as big as 148 acres, with a total floor area of 10,763,910.4 square feet (roughly a million square meters). This is compliant to the minimum 1-million-square- foot requirement of the Japanese IR Development and Promotion Ordinance.
This development will be about $8.5 billion to make. The area will have a casino, international conference centers, commercial and entertainment facilities. The estimates for revenue from this IR could be as high as $4.4 billion annually. This, of course, will not just boost the local economy through revenue, but through job generation as well. Security from the police will also be added, as well as measures and facilities for operators to help people with gambling addiction problems.
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