MGM Resort has been chosen by Japanese city Osaka as an integrated resort partner.
Details of the proposed $10bn development of a casino resort in the big Japanese city were unveiled this week as MGM stepped up its bid to be the developer and licensed operator of one of the country’s first major resorts.
The company’s new subsidiary, MGM Japan, and joint-venture partner ORIX have been selected as Osaka’s partner in the plan, which if implemented would make Osaka a major tourist hub.
MGM CEO Bill Hornbuckle said: “We will work closely with the city municipal government to deliver an iconic, uniquely Japanese destination warranting Osaka’s selection as home to one of Japan’s first integrated resorts.”
He added: “Nowhere is the future of tourism and hospitality more exciting than Japan and Osaka is the perfect location for that future to begin.”
The MGM-ORIX partnership is one of several steps in the licensing process following the 2018 passage of Japan’s Integrated Resort Implementation Act.
Next up is for MGM and ORIX and the city to submit an Area Development Plan to the central government between October this year and April next year – the application period. Licences will be issued by central government next year.