In Japan and the giant city of Osaka has reportedly released its budget for the next twelve months complete with approximately ¥325 million ($2.96 million) to help it complete infrastructure projects for the upcoming World Expo 2025.
According to a report from Inside Asian Gaming, the ¥1.77 trillion ($16.12 billion) budget was released just as the city of over 20 million inhabitants is facing its first deficit in four years and has doubled the funds allocated towards completing preparations for the quinquennial international event, which is scheduled to kick off from May of 2025.
Osaka beat out competitors Paris, Baku and Yekaterinburg for the right to host World Expo 2025, which is expected to attract up to 28 million visitors over the course of its seven-month run. In its bid, the city detailed that it would be building a new exhibition facility on a 173-acre portion of the man-made Yumeshima Island that could subsequently be repurposed or extended in order to host one of Japan’s coming trio of integrated casino resorts.
The source reported that Osaka Mayor Ichiro Matsui (pictured) is still keen on this plan and has been courting interest from a selection of international casino operators including the likes of MGM Resorts International, Genting Malaysia Berhad and Galaxy Entertainment Group Limited. The 56-year-old purportedly wants his city’s envisioned Las Vegas-style gaming venue to moreover feature hotels, galleries, shopping arcades and convention facilities with a substantial part of the 2020 budget being earmarked to reclaim even more of the Osaka Bay site.
Reportedly read a statement from Matsui…
“This budget is made for Osaka’s growth and to protect children. We want Osaka to continuously grow and to become an international city.”