The path to securing a license for an integrated resort in Japan is clear for Las Vegas Sands. The Osaka government has declared that they are the sole applicant for the project.
A statement from the government confirmed that Las Vegas Sands, in collaboration with Orix, a prominent Japanese financial services company, is the only group that submitted an application to construct an integrated resort in the prefecture by the February 14 deadline.
Galaxy Entertainment and Genting Singapore initially indicated interest in the competition. However, both companies subsequently followed in the footsteps of Wynn Resorts, MGM Resorts, and Las Vegas Sands by withdrawing from the race.
These companies may still submit bids in other regions, with Wynn, MGM, and Las Vegas Sands reportedly shifting their focus to Yokohama.
As the only bidder, Las Vegas Sands is now required to submit their proposal documents, which will be assessed by the Osaka Integrated Resort Business Selection Committee between May and June.
Following the signing of an agreement in July 2020, the ultimate decision regarding the official confirmation of MGM as the integrated resort partner will be made subsequently.
Public discussions concerning the plan and the creation of a regional maintenance strategy for the proposed facility location will continue until October.
The prefectural assembly and city council will then assess the maintenance strategy for submission to the national government for final authorization in January 2021. If Osaka is chosen as one of the three integrated resort locations in the nation, construction will commence later that year.
However, it remains uncertain whether this schedule will be postponed. The fundamental policy document for the integrated resort, which will establish the selection criteria for host cities and the final regulations for operators, seems to be facing delays due to a bribery scandal involving Chinese lottery provider 500.com. This incident resulted in the company’s CEO, Pan Zhengming, temporarily stepping down from his position.
Local news sources suggest that the policy may now be subject to further modifications. Legislation aimed at abolishing the Integrated Resort Act, passed in July 2018, has even been presented to the Japanese parliament, although the probability of it becoming law is considered highly unlikely.
In addition to Osaka, cities such as Okinawa, Yokohama, Wakayama, Sasebo, and Tokyo are also considered to be competing for the opportunity to become the host city for the integrated resort.
The northernmost prefecture of Japan has ultimately decided to pull back its proposal, citing worries about the environmental effects of such a project. Another possible location has also withdrawn from the competition.
The gambling zone within the integrated resort facilities must not surpass 3% of the total space of the venue. These facilities must also incorporate elements that showcase the culture of the host city, along with other entertainment choices, meeting spaces, and a minimum of 3,000 hotel rooms.
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