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The city of Osaka has chosen MGM Japan and its joint-venture partner Orix as the region’s integrated resort partner.
Details of the proposed $10 billion development have also been revealed, marking “an important step” in MGM’s long-term effort to create one of Japan’s first integrated resorts.
The proposal outlines a plan to transform Osaka into one of the world’s top entertainment and hospitality destinations by bringing a “world-class resort experience” to the city. The project, which will be built along the water on Osaka’s Yumeshima island, aims to “help establish Japan as a top global tourist destination.”
‘comprehensive and thoughtful process’
Bill Hornbuckle, MGM Resorts CEO & president said: “It is an honour to be selected as Osaka’s partner in developing an integrated resort.
“I commend the city for undertaking a comprehensive and thoughtful process to meet its goal of developing a world-class integrated resort in Osaka.
“We will work closely with prefectural/city municipal governments to deliver an iconic, uniquely Japanese destination warranting Osaka’s selection as home to one of Japan’s first integrated resorts.”
Following the approval of Japan’s Integrated Resort Implementation Act in 2018, Osaka chose MGM-Orix as one of several milestones in the licencing process.
Area development plan
MGM will then submit an area development plan to Japan’s central government, along with Osaka and Orix, during the application period between October 2021 and April 2022.
“Nowhere in the future of tourism and hospitality is more exciting than Japan, and Osaka is the perfect location for that future to begin,” added Hornbuckle.
“We couldn’t be more excited for the opportunity to help enhance and grow Osaka’s reputation as a world-class destination and gateway for the world to the wonders and rich history of Japan.”
The central government is anticipated to grant integrated resort licences in 2022. MGM plans to open its Osaka project in the second half of the 2020s if it is chosen to acquire a licence.