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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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One of betting and gaming’s best-known customer acquisition and comparison businesses, Quantum, has announced the next steps in its ambitious growth plan by welcoming two new director-level appointees.
Joining the business are Dimitris Papamichael as commercial director and Luke Watkin as marketing director – both in newly created roles. They come in alongside a full C-suite and a full team of new tech hires that continues a recruitment drive which began in 2023 – and reflects Quantum’s rapid and consistent growth throughout the last five years.
Papamichael will be responsible for all revenue-generating activities across the business in a pivotal leadership role. He’ll shape Quantum’s commercial strategy as the company diversifies into new verticals while maintaining its strong position in the iGaming sector. He’ll also lead an expanding team of commercial and sales managers.
Watkin will lead the development and execution of the marketing strategy across all business verticals. As marketing director, he’ll be instrumental in shaping Quantum’s marketing vision, building scalable systems, and delivering commercial impact as it expands into new markets. Watkin will build and mentor a high-performing marketing team and is also tasked with driving further recruitment.
Speaking of the appointments and new strategic direction, CMO James McCarthy said: “It’s a pleasure to welcome Dimitris and Luke to Quantum during what is undoubtedly a really fascinating time in our growth. From cementing our relationship with some of iGaming’s biggest names to helping us expand into exciting new sectors, both of our new Directors will be integral to the continued success of the business.”
Papamichael said: “I’m thrilled to be joining Quantum at such an exciting stage of its incredible growth journey. The company has already achieved so much, and there’s huge potential ahead as we expand into new markets and sectors. I can’t wait to work with the exceptionally talented team here to seize the many opportunities ahead and drive the next phase of growth.”
Watkin said: “I am delighted to join a business with such a proven track record of excellence in its core markets, as well as highly ambitious plans for strategic expansion into new markets and territories. I am looking forward to contributing towards building on the exceptional progress the team has made to date, and accelerating that growth in the years ahead.”
This people news comes hot on the heels of the company’s exciting rebrand news of last week, moving toward the “quantum” in QiH Group” as well as redefining the business’ purpose and strategic direction.
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