MGM Resorts bets all-in on Osaka casino resort
MGM Resorts International is betting big on bagging a license to operate an integrated casino resort in the Japanese city of Osaka.
During an earnings call to analysts MGM Resorts CEO James Murren said the company will focus all its efforts on Osaka.
It has earmarked ‘considerable resources’ for its bid, Murren said.
"MGM has adopted an Osaka-first strategy .We just recently opened up an office in Osaka. We’ve committed now to the mayor and to the governor of Osaka," he said.
Local media recently reported that the Osaka government has set out a bidding framework for a casino resort which would need investment of about US$8.5 billion.
Murren says Osaka will likely be chosen as one of the first three Japanese cities to get a casino resort but acknowledges the bidding process will be highly competitive.
Virtually every major global casino operator wants a piece of the action in Japan, which is being touted as potentially as big a market as Macau in the long term.
If granted, MGM is targeting a 2024 opening.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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