Japan is seen as a prized market for casino operators, although opinion polls have shown many citizens worry about addiction and crime.
in the western city of Osaka, paving the way for a 1.8-trillion-yen resort set to open in 2029, aimed at attracting domestic and international tourist spending.
Casinos were previously illegal in Japan along with other private gambling, but a 2018 integrated resort law provided exception to casino games such as poker or baccarat at officially approved establishments as part of an effort to attract tourists. US casino operator MGM Resorts International and local partner Orix Corporation have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex., which said MUFG Bank and Sumitomo Mitsui Banking Corporation would provide 550 billion yen of project financing for the resort.
The resort is targeting 520 billion yen of revenue annually, mostly from the gaming business, and forecasts it will attract 6 million international tourists and 14 million domestic visitors, the project document showed.
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