Osaka's Casino Project to Start Next Spring

OSAKA, Oct 03 (News On Japan) - Osaka City has handed over land for the Integrated Resort (IR) project, which will include a casino, after signing a contract to lease the land to the developer for 35 years at a monthly rent of 2.1 billion yen.

According to the city, on October 1, 46 of the 49 hectares designated for the project -- excluding the land used for the Expo -- were handed over to the developer. The construction of the buildings is expected to begin as early as next spring and the facility opened in 2030.

The monthly rent of approximately 2.1 billion yen will be paid starting after measures to prevent soil liquefaction are completed and the Expo ends next fall.

Meanwhile, in September this year, a citizens group filed a residents' audit request, arguing that the rent was set unfairly low, causing financial damage to the city.

Source: MBS

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