Operator News
Japan – MGM Resorts and ORIX expected to invest JPY1trn in Osaka casino
By Phil - 19 July 2021
The consortium fronted by MGM Resorts and ORIX, is prepared to spend big in Osaka to guarantee its success in the race for one of three Japanese casino licences with a planned investment of JPY1trn (US$9.09bn).
Despite being the only candidate in Osaka’s IR race with Genting Singapore, Galaxy Entertainment, Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts all previously pulling out, MGM is hoping the huge investment will see it secure the licence with the aim of opening in 2028.
The group of companies will submit its formal proposal on July 20 with the plan to spend US$182m on extending Osaka’s subway to the site of the casino in Yumeshima.
MGM as President of Global Gaming Development Brian Sandoval said: “Osaka is an incredible city that is passionate about business, food, and having fun. MGM and our Japanese partners intend to deliver a Kansai-focused IR that will wow visitors from far and wide. We expect that the IR will attract both international visitors, as well as people living in the Kansai region and Japanese tourists from other parts of Japan. Regional IRs in the United States, including MGM’s properties in Detroit and Maryland, receive more millions upon millions of visitors every year.”
“We want to provide guests with a new IR destination experience that is uniquely Japanese. Japan is advanced in technology innovation. It is also known as the best in class in terms of hospitality, rich in arts, culture and food. We respect the spirit of “Omotenashi” and Japanese vibrant traditions. We have already learned so much from Japan that we have been able to export to other markets in which we operate,” he added.
