Osaka, Feb. 12 (Jiji Press) — The western Japan prefecture of Osaka and its capital city said Tuesday that economic effects from a casino-featuring integrated resort they plan to establish will total 760 billion yen a year.
The estimate is included in a draft basic plan for the integrated resort, unveiled the same day. The resort is planned to be built on Yumeshima, an artificial island in Osaka Bay.
The plan will serve as guidelines, based on which integrated resort operators will submit their proposals to the prefecture and the city of Osaka. The competition process is slated to start this spring.
The prefecture and the city aim to open the integrated resort in fiscal 2024, prior to the World Expo, to be held in 2025 on the manmade island. The total investment in the integrated resort is projected at 930 billion yen.
Under the plan, a hotel with more than 3,000 guest rooms, an international conference hall capable of accommodating over 6,000 people and commercial facilities, as well as the casino, will be constructed on the 60-hectare integrated resort site.
The prefecture and the city hope to make it one of the best integrated resorts in the world.
According to the plan, the integrated resort is expected to attract a total of 15 million visitors a year, such as families and businesspeople. Of them, 5.9 million will be for the casino.
Total annual revenue at the integrated resort is estimated at 480 billion yen, including 380 billion yen from the casino.
The local governments’ combined revenue from the integrated resort is estimated at 85 billion yen, including tax and other receipts.
The prefecture and the city asked possible bidders to create a system to prevent gambling addiction utilizing information and communications technologies or artificial intelligence.