Osaka won a bid to host World Expo 2025, and one step closer to building IR
The Bureau of International Exhibitions (BIE) in Paris announced that World Expo 2025 will be held in Osaka. The closest competitors of the province were Ekaterinburg and Baku. The international fair will be held in the Japanese city for the second time.
World Expo events, which will last six months, can become a center of attention in host cities, attracting foreign tourists and locals. The exhibition of 2025 will be held on the island of Yumishima.
The local government has also consistently declared its support for the placement of a casino resort on Yumeshim for the development of tourism in the region. As part of the liberalization of the gambling business in the next few years, integrated resorts will appear in three locations.
Nomura, Japanese brokerage company noted that holding World Expo 2025 and the construction of an integrated resort will contribute to the economic growth of the region.
“Building an IR is likely to be an incentive to redevelop the island and generate additional revenue for construction companies in Osaka. Attracting foreign tourists will stabilize the situation and improve the growth prospects for hotels that are already operating in the region,” - said experts at Nomura.
Several major global gaming operators have confirmed their interest in the development of casinos in Japan. Industry leaders believe that the first licenses for the construction of facilities will be issued in 2020, and the first resorts will begin work in 2025.
According to experts, Osaka is one of the leading candidates for a license. Any company wishing to build a casino resort in Yumishimu must use the infrastructure developed for World Expo 2025.
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