Mitsui Fudosan, partners said seeking OK for Odaiba casino-resort complex

Bloomberg

Mitsui Fudosan Co., the nation’s largest property developer, is seeking approval for an entertainment complex and resort in Tokyo with construction firm Kajima Corp. and Fuji Media Holdings Inc.

The companies have applied to set up an entertainment complex in the Odaiba district, according to the website of the Cabinet Secretariat.

They have teamed up for a possible casino resort, Reuters reported Friday.

Tokyo’s selection as host of the 2020 Olympics has boosted speculation the government will open up the market to casinos, and companies including Las Vegas Sands Corp. and Wynn Resorts Ltd. have said they plan to invest in Japan.

A group of lawmakers plans to submit a bill to the Diet as soon as this year to legalize casinos. Gambling such as pachinko and betting on horse, boat and bicycle races is already allowed.

The Nippon Foundation, a nonprofit organization, was also named as part of the group on the government website.