MGM Japan, together with its joint-venture partner Orix, has been selected by Osaka as the region’s integrated resort partner.
Marking “an important step” in MGM‘s long-term bid to develop one of Japan’s first integrated resorts, details of the proposed approximately $10bn development have also been unveiled.
The proposal showcases a vision to bring a “world-class resort experience” to Osaka, with a view to transforming the region into one of the world’s top entertainment and hospitality destinations. Set to be located along the water on Osaka’s Yumeshima island, the project is designed to “help establish Japan as a top global tourist destination”.
“It is an honour to be selected as Osaka’s partner in developing an integrated resort,” commented Bill Hornbuckle, MGM Resorts CEO & president.
“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.”
Osaka’s selection of MGM-Orix is one of several steps in the licencing process following the 2018 passage of Japan’s Integrated Resort Implementation Act.
The next step is for MGM, together with Osaka and Orix, to submit an area development plan to Japan’s central government 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.”
Integrated resort licences are expected to be issued by the central government in 2022. If selected to receive a licence, MGM anticipates an opening date in the second half of the 2020s for its Osaka project.