As Osaka IR's opening in autumn 2030 is reported, it is beginning to affect business decisions in South Korea's casino industry, driving changes in investment decisions and the outlook for demand from Japanese visitors.
Osaka IR (MGM Osaka), which is targeting an opening around autumn 2030, is already beginning to affect business decisions in South Korea's casino industry before opening. This reflects the high proportion of demand from Japanese visitors supporting the South Korean market, and analysis indicates that the return of Japanese demand to Japan could also affect market strategies on the South Korean side.
According to Paradise City's results for the fiscal year ending March 2026, Japanese visitors accounted for approximately 52.4% of casino net revenue, supporting the growth of casinos exclusively for foreign nationals. At the same time, the entry of Osaka IR is increasing the need to capture demand for visits to South Korea and bring forward efforts to strengthen competitiveness. Osaka IR's strength lies in its integrated resort concept combining MGM with the Kansai tourism region.
The planned scale of Osaka IR is said to include initial investment of approximately ¥1.513 trillion, total floor area of approximately 780,000 square metres, 3 hotels with approximately 2,500 rooms, approximately 20 million visitors annually, annual revenue of approximately ¥520 billion, and gaming revenue of approximately ¥420 billion. South Korean operators are reassessing capital allocation and capital expenditure in anticipation of recovering investments of a similar scale and fluctuations in demand.
Financial markets are also beginning to incorporate Osaka IR's impact, with Osaka IR emerging as a factor in the risk assessments of banks and securities firms. South Korean companies are proceeding with investment while retaining cash, but it has been pointed out that the payback period could lengthen depending on trends in demand from Japanese visitors. A review of the government's lending and licensing systems is also being discussed.