In Japan, the city of Osaka reportedly launched its request-for-concept (RFC) application process earlier today as part of the procedure to eventually select the commercial partner to potentially operate its hoped-for integrated casino resort.
According to a Wednesday report from GGRAsia, Japan ratified legislation in late-July that is due to see the federal government award three distinct communities with licenses to open and run a single Western-style integrated casino resort featuring multiple hotels, shops and conference spaces. In order to secure permission to host one of these multi-billion-dollar facilities, candidate localities are being required to team up with private-sector partners in order to submit concrete development proposals featuring funding, design and service particulars.
Yumeshima Island vision:
Osaka is a city of over twelve million people and it has long envisioned utilizing 121 acres of reclaimed land on Yumeshima Island as the site for its envisioned Las Vegas-style integrated casino resort. This scheme for the man-made island in Osaka Bay is known to have aroused potential interest from international operators such as MGM Resorts International, Melco Resorts and Entertainment Limited and Las Vegas Sands Corporation as it is to also likely to encompass the publicly-funded construction of a subway line.
GGRAsia reported that Osaka now intends to keep its RFC process open until May 24 with all applications required to follow an earlier federal government ordinance by including a number of core specifications such as the size and scale of any planned development’s hotel, convention and exhibition facilities. Tokyo has declared that it will only award integrated casino resort licenses to those facilities that can attract international tourists to the wider region and feature a unique attraction that promotes local culture.
Following the conclusion of the RFC stage of the application process, Osaka plans to give interested parties until the end of August to submit their official development plans. This is due to be proceeded by two months of public discussions before local tourism officials unveil their ‘basic policy’ requirements.
Only after all of these preliminary stages have been completed does the giant Japanese city intend to initiate the official request-for-proposal (RFP) phase of the selection process before likely unveiling the identity of its private-sector partner sometime early in 2020.