MGM Resorts International has reaffirmed its commitment to pursuing the construction of an integrated resort in Osaka, following the shock announcement that Las Vegas Sands is withdrawing its interest in the region.
Abandoning its previous intentions in favour of a potential development in either Osaka or Yokohama, MGM stresses that it has not wavered from its ‘Osaka first’ policy and remains “deeply committed”.
After revealing that the casino giant is solely focused on Osaka earlier in the year, the firm is striving to gain a further upper hand via cooperating with its Senshu Summer Festival that is to run for two days from Saturday 24 August.
Jim Murren, chairman and CEO of MGM, explained: “MGM Resorts remains deeply committed to pursuing an integrated resort in Osaka, Japan. We announced our ‘Osaka First’ strategy and have not wavered from that plan. We have always had confidence in our position, as what we will bring to Osaka is something only MGM Resorts can deliver.
“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.
“We are also excited about our partnership with Orix, a highly respected Japanese company with a strong presence in Osaka, as we jointly pursue this venture. Together, we are working to submit our response to the ‘request for concept,’ and look forward to the next steps in the process.”
LVS’ withdrawal from the Osaka region to focus on Tokyo and Yokohama, located a little over 30 minutes apart, leaves MGM as clear favourite.