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Japan – Preferred operator status now official for MGM in Osaka

By - 28 September 2021

The foregone conclusion that MGM Resorts and partner ORIX Corp are the preferred developers to build an Integrated Resort casino on the artificial island of Yumeshima in Osaka Bay has been made official by Osaka Prefecture and Osaka City.

The consortium was the only option left for Osaka following the withdrawals of Genting Singapore, Galaxy Entertainment, Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts.

The Osaka Prefecture IR Evaluation Committee gave MGM and ORIX a total score of 788.5 points from a total of 1,000 under its RFP points system.

The Prefecture stated: “Currently, the global expansion of the coronavirus pandemic is having a serious impact on socio-economic and tourism-related industries, but the proposal from the MGM/ORIX consortium shows a deep understanding of the purpose of this project. Looking ahead to post-corona, the realization of a growth-type IR that makes use of the tourist attractions of Osaka/Kansai and the potential of industrial and cultural resources will become the engine of economic growth in Osaka/Kansai. The urban brand of Osaka will become a new internationally competitive city brand. It is a very ambitious proposal aimed at raising [Osaka] to the next level.

“In the future, we will steadily proceed with the project in full cooperation between Osaka Prefecture, Osaka city and related parties to … form an international tourism base in Yumeshima and revitalise the Osaka Bay area,” it added. “It is expected that the Osaka IR will contribute to the growth of the Osaka/Kansai economy and the tourism industry, as well as the introduction of tourism and economic promotion across Japan as a whole.”

The consortium expects to spend JPY1trn (US$9.09bn) on the project with the aim of opening in 2028.

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