Osaka’s IR Plans Lose Some of Their Sparkle

From last November, when Osaka won its bid to host the 2025 World Expo, until August of this year, when Yokohama announced that it was entering the race, Osaka Yumeshima was looking like it would become host to the grandest and most successful IR in Japan.

Japanese Public Left Behind in IR Race

The race to gain one of the three available IR licenses is advancing into the decisive stage, with Japanese local governments and international IR operators eagerly lining up for approval. However, the Japanese general public remains broadly on the sidelines, not waiting in anticipation, but rather sullenly watching developments they don’t approve of.

Yokohama Chamber of Commerce Launches Pro-IR Organization

Having telegraphed its intention to do so since March, the Yokohama Chamber of Commerce & Industry has finally launched its pro-IR organization, dubbed the “Yokohama IR Promotion Association.”

Tokyo Mulls IR Development in Odaiba Aomi Area

The Tokyo Metropolitan Government has announced a series of consultations with private companies over its tentatively-named “Tokyo Bay Area Vision,” which explicitly includes the possibility of an IR bid for the Aomi area of Odaiba.

Yokohama Establishing New IR Promotion Office

The Yokohama municipal government is establishing a new “IR Promotion Office” to guide its policies into the more active phase of IR development.

Tennis Champion Naomi Osaka Becomes Melco Brand Ambassador for Yokohama IR Bid

Melco Resorts & Entertainment made several major announcements at a press event in Tokyo on Tuesday, including that Japanese tennis champion Naomi Osaka has become brand ambassador and sports group director for the company’s Yokohama IR bid.

Suncity Outlines Plans for Wakayama IR

Suncity Group has revealed its plans for an IR featuring the traditions, history, and natural landscape of Wakayama.

Three Airports Part of MGM’s “Osaka Only” IR Bid

Resorts and Orix Corporation clarified that all three regional airports—Kansai International Airport, Itami Airport, and Kobe Airport—will be associated with their consortium’s bid to build an IR at Osaka Yumeshima.

Sands Envisions US$10-12 Billion IR Investment in Yokohama

Las Vegas Sands executives told an earnings conference call that they are focusing attention on their Yokohama bid, which they envision will involve an investment of US$10-12 billion.

Resona Bank Creates Yumeshima IR Development Team

Resona Bank Vice-President Hajime Kosaka has been giving a series of interviews to Japanese newspapers explaining that his firm has established a sixteen-department, fifty-person project team dedicated to the development of the prospective Yumeshima IR and the 2025 World Expo.

Trending Articles

IR Basic Plan Likely to Be Published in November

The IR Basic Plan, which is to lay out in more substantial detail the requirements and processes to make IR bids, is now expected to be published in November, according to a report in the Sankei Shinbun.

Suncity Launches Japanese Website and Wakayama IR Concept Movie

Making up for lost time, the Suncity Group has launched its Japanese-language website, complete with a high production value, five-minute movie outlining its concept for an IR at Marina City, Wakayama.

Saipan Mulls More Junkets

The Commonwealth Casino Commission (CCC) in the Commonwealth of Northern Mariana Islands will discuss an application for four new junket operators today, together with a contract extension for Imperial Pacific International’s chairman.

More Than Half of the World’s Gaming Machines in Japan

The number legally installed gaming machines worldwide in 2018 is estimated at 7,402,395, with Japan taking the lion’s share at over 58%.
Fitch Asia Markets

Fitch Pegs Japan IR Revenues at US$6 Billion

Fitch Ratings has estimated that the first round of IR construction in Japan will create revenues in the US$6 billion range, much smaller than, for example, the Morgan Stanley report of April 11 which foresaw a US$15 billion Japanese IR market developing by 2025.