Today, however, the project is ready to begin construction and to be finally completed by the end of the year. 2030. Governor of Osaka Hirofumi Yoshimura is convinced that there is nothing that can disrupt this progress or make it more difficult for the project to succeed in the future.
Osaka is confident the project will succeed no matter what
Of course, the new deadline for the completion of the project is already very far from the opening date initially planned for the month of May. 2025when the Expo Osaka Kansai will take place.
This deadline was of course rendered unrealistic by a number of factors, among them the withdrawal of bidders, the shutdown of the global economy due to COVID-19 and, above all, internal dissension and accusations of corruption and corruption. influence peddling in Japan.
Yoshimura is convinced that all of this has been beneficial, as he praised the cultural significance of the prefecture and the region in general. Speaking to the public and quoted by Yahoo News, the governor said:
Kansai is a region very rich in history. Traditional Japanese culture is something not found in Macau, Singapore or South Korea. It is these unique elements that we will promote in the resort.
Governor of Osaka Hirofumi Yoshimura
The future project will be built as part of a partnership between MGM Resorts International, an American state-owned company, and the European Union. American casino giantAnd Orix Corp.which is the company’s local Japanese partner. The estimated cost of the station is not yet specified, but it should be around the $10 billion. The initial cost to invest to start the construction of Yumeshima, an artificial island located in northern India. Osaka Bayis estimated at nearly $8 billion.
The opportunity for an economic boom
Japan was keen to see this project through, as it sees it as an opportunity for an economic boom. According to CLSA analyst Jay Defibaugh, the future resort will have a significant impact on tourism and the economy, as similar projects have done in places such as Singapore.
Of course, not everyone is convinced that will be the case, and all but a few companies are pulling out of the race altogether and considering other opportunities. MGM Resorts International is, however, pursuing its own projects and will be the weathervane for the success of this enterprise. If successful, the race for the second license to operate a boarding lounge will be fierce.