Asia
Osaka Chooses Deloitte Touche Tohmatsu to Oversee IR Project
Osaka prefecture has chosen business consultancy Deloitte Touche Tohmatsu to provide support services for the monitoring of its integrated resort (IR) development consortium.
Deloitte will oversee financial, legal and technological aspects of the special-purpose company established by private investors for the construction of a casino complex on Yumeshima Island in Osaka Bay.
The consultancy’s responsibilities will cover the monitoring of the consortium’s business activities during the financial year 2023-24. The proposed fee is just over US$593,000, inclusive of consumption tax.
Osaka’s IR project is worth US$8.38bn and is backed by a consortium that includes MGM Resorts International and Orix. MGM holds 40% equity stake in the development, with Japan’s Orix Corp also having a 40% share. The remaining 20% is distributed among various Japanese investors.