MGM Has Possibly Won Osaka IR Battle

MGM Resorts International seems to have won the integrated resort battle in Osaka, after the regions prefecture government announced that the offer of the US casino, hotel and entertainment company is the only bid on the table, reports Inside Asian Gaming.

The company reaffirmed last year’s pledge to undertake the development of an integrated resort in Osaka, with Galaxy Entertainment Group and Genting Singapore both assumed to be in the running.

It followed the withdrawals of Las Vegas Sands, Melco Resorts and Entertainment and Wynn Resorts, with focuses currently being firmly shifted to other parts of the country, namely Yokohama and Tokyo.

As the deadline for Osaka to apply for the Request for Proposal stage recently passed, it is said that MGM was the only consortium to send a proposal alongside its local partner Orix. This leaves the firm in prime position to win one of three IR licences which the national government is expected to award next year.

In a statement Genting Singapore has said: “This is a tough decision for us, and it’s unfortunate after the many exchanges we have had with everyone in Osaka.

“In the future, Genting Singapore will focus on participating in the Yokohama IR request for concept, which is currently underway. We will do our utmost to provide an attractive proposal including MICE and a variety of leisure facilities to make it a must-visit destination.”

Jim Murren, chairman and CEO of MGM, who last week revealed he is to leave his role at the end of his current contract, previously said of the firm’s commitment to Osaka: “We will bring world class entertainment, exciting cultural events, convention expertise, and premium dining and retail experiences that will have broad appeal both nationally and internationally. We have extensive experience in developing and operating large scale integrated resorts across multiple regions.

“MGM Resorts will develop a truly unique destination that will generate significant economic activity for the region and increase employment opportunities while delivering an attractive return for all stakeholders.”