{"id":8866,"date":"2023-04-18T10:16:46","date_gmt":"2023-04-18T10:16:46","guid":{"rendered":"https:\/\/www.casino.com\/blog\/\/blog\/?p=8866"},"modified":"2024-04-14T15:53:54","modified_gmt":"2024-04-14T15:53:54","slug":"japan-to-open-its-first-ever-casino","status":"publish","type":"post","link":"https:\/\/www.casino.com\/blog\/2023\/04\/18\/japan-to-open-its-first-ever-casino\/","title":{"rendered":"Japan to Open Its First Ever Casino"},"content":{"rendered":"\t\t
Japan has approved an incredible $8.1 billion (1.08 trillion yen) deal for a resort to be built in Osaka. This will be the countries first ever casino<\/a>, following a recent law that was passed in 2018 to legalise gambling in the country.<\/p>\n\n The project has many backers. The U.S casino operator MGM Resorts and Japanese based ORIX Group both own a 40% stake each, and a further 20 companies share the additional 20% share. The Osaka IR Project, as it is known will predominantly be managed by both MGM and ORIX.<\/p>\n\n However, as groups such as MUFG Bank\u00a0and Sumitomo Mitsui Banking Corp\u00a0will also be providing significant funds, they will also be contributing to the development, according to the local government.<\/p>\n\n The plans were submitted in Osaka last April and have been approved in hopes of boosting tourism in the country following a lack of visitors over the past few years, due to the Covid outbreak. This large-scale casino resort<\/a> will be built in the western city of Osaka, and is hoped to be unveiled in 2029.<\/p>\n\n The aim of this resort is to target both domestic as well as international visitors, generating roughly 500 billion yen in yearly revenue. The attractive seeks to bring in over 20 million annual guests which will tap into the previous untouched casino market in Japan. Fumio Kishida, the country\u2019s Prime Minister has also been noted saying that he hopes it will gain recognition for Japan\u2019s beautiful offerings.<\/p>\n\nThe History of Gambling in Japan<\/h2>\n\n
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