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Osaka IR Land Lease to Cost $18.4M Annually
Osaka Mayor Ichiro Matsui has revealed at his regular press conference that three of the four companies requesting a real estate appraisal for the lot earmarked for the Osaka IR bid have agreed on the leasing price.
Prior to the mayor’s press conference, Osaka Port Office explained to the media on 15 December that there had been “absolutely no” guidance provided to the contractors performing the assessment. Due to the lack of any business results in the past, each of the companies calculated it as a “large commercial facility complex” and three of the four companies calculated the monthly rent amount at JPY428 ($3.15) per square meter. This is twice the value as that of the surrounding light industrial zone.
Osaka city plans to lease 49 hectares of land on Yumeshima to the planned operator for a 35-year lease for the annual rental fee of JPY 2.5 billion ($18.4 million).
Mayor Matsui explained at the press conference: “This land was not for sale in the first place. The sale price was only calculated as a basis for setting the lease fees. The lease amount can’t be determined without knowing the value of the land. The IR operator requested that the IR plot be leased and not sold. They said they want the initial investment to be building, not land.”
In response to a question suggesting the lease price has been set much lower than that of the Universal Studio Japan (USJ) land prices in the Konoha Ward, the mayor responded, “When USJ was first pitched, the lease was cheap, and it has risen with USJ’s growth. Yumeshima’s land will not be sold but leased. I believe the price will increase with the market over the next 10 or 20 years.
“First, we will make the land appealing. It’s the same as what we did with USJ. The value of the land will increase as the location becomes a central gathering point. However, the initial foundation must be appraised by the appraisal office. This is still a location unaffected by market forces [as there is currently nothing there].”
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
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Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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