Officials have allowed a gambling resort to open in Osaka in 2029 to attract tourists.
Japanese officials have approved controversial plans to build the country's first gambling resort.Casinos have long been illegal in Japan. But a law was passed in 2018 providing exceptions to games, such as poker or baccarat, to create jobs and boost tourism.Besides the casino, the 5.3 million square-foot complex will include a hotel, conference centre, shopping mall and museum.
The project has an initial investment of 1.8tn yen with US-based casino operator MGM and Japan's Orix Group each owning a 40% stake in the company. Officials expect the resort to attract around 20 million visitors annually and bring in roughly 1tn yen in annual economic benefits to the region, according to a Japanese news service.
Japan is seen a promising market for gambling. It is the world's third largest economy with a population of roughly 126 million.
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