According to Hirofumi, Osaka mayor, hosting a casino in Osaka can help the metropolis to gain rights to run the motor race, Formula One Grabd Prix. He further added that hosting this race could further boost overseas tourism in Osaka.
There will be advancement in infrastructure as well including high-quality roads. These will be developed as a part of Osaka’s successful bid to host the World Expo 2025.
The island of Yumeshima will be used to host this event. Japanese brokerage Nomura expects Osaka’s success in being selected for this event, to pave the way for a casino resort.
The Mayor Yoshimura also indicated in his comments that any Formula One Grand Prix hosted in Osaka could be a street circuit around Yumeshima.
“If we can attract investment from the world, we’ll be able to achieve things we currently can’t realise in Japan. Racing on a street circuit might be achievable at Yumeshima,” Mr Yoshimura said to a news outlet.
Earlier this month it was reported that Osaka was looking for US$8.5 billion in capital investment from any casino project. The Unite States-based casino firm MGM Resorts said that it was very committed to the mayor and governor of Osaka in their aim to pursue a casino project, after approval.
Japan now hosts one single Formula One Grand Prix every year. This is hosted on the east coast of Honshu and this year’s race will be held in October.