# Osaka, MGM agree IR plan with Orix

The governments of Osaka Prefecture and the city of Osaka on Tuesday reached a "basic agreement" on integrated resort IR with U.S.-based casino group MGM Resorts International and its Japanese partner Orix. The announcement was made by both governments on Wednesday.


The basic agreement includes a pledge by the casino group and its local partner to spend 22.05 billion yen ($175 million) on extending the Osaka subway to connect it to Yume-Shima, an artificial island in the Gulf of Osaka that will house a casino resort (pictured with renderings by artists).

According to GGRA's Japan correspondent, the agreement on such a location involves specifying the responsibilities of the parties to submit to the national government the Osaka IR District Development Plan, a regional plan for the integrated resort.

Since large casinos with tourist facilities are known in Japan, April 28 is the deadline for local governments to submit their tilt toward integrated resorts or IR to national authorities.

Under the liberalization plan, up to three such facilities will be allowed across the country. The other current competitors are Wakayama and Nagasaki.

If Osaka's plan is submitted and selected, the prefecture and the city will enter into an implementation agreement with MGM Resorts and Orix.

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