QUI 23 DE MAIO DE 2019 - 15:44hs.
Japan

MGM and Orix announce formal bid for Osaka IR

US casino operator MGM Resorts International has officially announced that it will submit an application to develop an IR in Osaka in a consortium with local partner Orix. The announcement was made by Ed Bowers, CEO of MGM Resorts Japan, at a special media event on Monday this week. While Osaka prefecture and city is aiming to open an IR in 2024, this is the first public announcement of a concept bid by an IR operator.

While Bowers did not reveal a specific submission deadline for the concept, nor concrete details, he described the impending submission as “exciting and impactful.” This is the first public announcement of a concept bid by an IR operator. 

Bowers emphasized MGM’s “Osaka First” policy, stating, “We are hoping to see many Kansai corporations participate in our business effort, regardless of their size, in order to express the local flavor.”

He also elaborated on the background of MGM’s cooperation with Orix, describing its local partner as “an excellent company deeply rooted in Kansai. Their passion really stood out in their research and study of an IR.”

Osaka prefecture and city is aiming to open an IR in 2024, with the public offering for submission of a concept starting on 24 April. Participant registration will remain open until 24 May with the formal offering for bidders to take place in the Fall. The winning bid is expected to be announced in Spring.

Assuming Osaka, as expected, is selected by the national government as one of three locations for development of a Japanese IR, Osaka’s will be located on 49 hectares on Yumeshima Island.

MGM is hosting a “Thinking About Integrated Resorts (IR) Together” event from 14 to 31 May 2019 at the Grand Front Osaka in an effort to increase the understanding of residents toward the project. During that period, MGM will use video and photos to explain MGM’s business and the broader IR concept, as well as to gather feedback from residents.

Source: GMB / Asgam.com