Following the recent endorsement from central Japanese government, the Osaka Integrated Resort project (IR) has now officially inked its implementation plan, solidifying the partnership between the Osaka provincial government, MGM Resorts International and Oryx Corporation.

The signing of the implementation plan marks another significant step taken in the realization of the trailblazing casino and leisure destination on the Yumeshima Island, near Osaka.

The agreement in question was signed just a few days back, on 25th of September, in Osaka. It was the second agreement. The first was signed for the Osaka Integrated Resort project, involving MGM Resorts International and Oryx Corp. The second was a lease agreement for the IR’s land. The signing of these two agreements marked a historic milestone in the gambling-friendly project's development.

Hirofumi Yoshimura, Governor of Osaka, expressed his anticipation that the upcoming IR would play a pivotal role in providing a boost to the region's economic growth. During the same ceremony, MGM Resorts Chief Executive & President Bill Hornbuckle emphasized that Osaka can and will become a global destination for tourism, and the IR would likely be at the epicenter, which underlines the high aspirations for the project's impact on tourism and economy of Osaka.

Speaking on the topic, Hornbuckle added, “This is a significant moment for our company as we officially close the certification process and begin to focus on executing our vision, in partnership with Orix, to build a world-class integrated resort in Osaka.”

The implementation plan serves as the beating heart of Osaka's visionary Integrated Resort District Development Plan, a blueprint that has already received the green light from central governmental authorities. Now, with the process of certification successfully behind them, the main investors can shift their gaze toward the upcoming milestones, eagerly watched by stakeholders and the vibrant community.

While the original vision for the IR project has set its sights on a grand opening of the gambling-friendly property in 2029, Osaka officials have shared a more tempting plan, which reschedules the opening of the property in the alluring autumn of 2030. Of course, the project on enchanting Yumeshima Island will come at a substantial cost. According to available information, the development of the IR will cost a staggering amount of approx. JPY1.27 trillion (equivalent to $8.5 billion). While the investment for the IR may be substantial, it is poised to yield a bountiful harvest of benefits for the local economy.