The Osaka prefectural and municipal governments said Tuesday that they will delay the opening of a planned casino resort to around autumn 2030.
When the local governments submitted their development plan to the central government in April 2022, the resort was scheduled to open around autumn or winter 2029. The delay came about because the plan did not win central government approval until April of this year.
The Osaka governments also said that initial investment will increase to ¥1.27 trillion from the previously planned ¥1.08 trillion due to soaring prices for construction materials.
Once the revised plan receives central government approval, the Osaka governments aim to sign a contract with the operator for the casino resort, possibly as soon as this month.
A company led by U.S. casino giant MGM Resorts International and Japan's Orix will construct and operate the resort, which will be built on the Yumeshima artificial island in Osaka Bay.