MGM Resorts and Orix’s joint Osaka casino in Japan is expected to generate $4.7bn in annual revenue once it opens in 2029, according to Inside Asian Gaming.
The $9.4bn project is expected to break ground next year. The planned 8.3 million square foot project would make for a maximum 249,000sq.ft casino if MGM develops the allowed three per cent of floor space for gaming.
MUFG Bank and SMBC Bank have agreed to finance $4.8bn. The remaining $4.6bn will come from investments from at least 20 organisations including Orix, which will contribute $1.8bn.
The development plan will be submitted to the central government by April 28 once it is approved by the prefectural and municipal councils. MGM and Orix would be licensed for 35 years with a possible 30-year extension.
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