The revised implementation agreement for Osaka's integrated resort project has received the green light from the Japanese central government. This agreement, which has been developed by the Osaka Prefecture in collaboration with the MGM Resorts consortium leading the project, is expected to lead to the signing of a formal agreement later this month.
The announcement of this approval was made by Japan's Minister for Land, Infrastructure, Transport and Tourism, Tetsuo Saito, last Friday. This decision follows the submission of a modified agreement by the prefecture earlier this month.
As per the revised agreement, the opening of the integrated resort will face a further delay, now slated for the year 2030. Additionally, the initial investment for the project has been increased by $1.3 billion, bringing the total to $8.6 billion. These adjustments to the agreement were prompted by the rising costs of construction materials.
The announcement of this approval was made by Japan's Minister for Land, Infrastructure, Transport and Tourism, Tetsuo Saito, last Friday. This decision follows the submission of a modified agreement by the prefecture earlier this month.
As per the revised agreement, the opening of the integrated resort will face a further delay, now slated for the year 2030. Additionally, the initial investment for the project has been increased by $1.3 billion, bringing the total to $8.6 billion. These adjustments to the agreement were prompted by the rising costs of construction materials.
