VIE 3 DE MAYO DE 2024 - 08:07hs.
Japan

MGM’s consortium for Osaka bid could reach a dozen companies

The consortium of companies led by MGM Resorts to bid for a casino licence in Osaka could involve 12 firms. The Las Vegas giant has said its partnership with Japanese financial services group Orix is prepared to invest US$9 billion for a casino in Osaka. “We’ll include other Kansai companies in our consortium, say, more than 10 firms,” said MGM Resorts Japan’s CEO, Ed Bowers.

Speaking to Nikkei Asian Review, MGM Chairman Jim Murren said: “MGM Resorts is focused on finding the right mix of companies aligned in their vision and culture that we are trying to create. We don’t have an artificial cap for the number of companies inside and outside the consortium to partner with.”

“We want to find the right mix of companies aligned in their vision and culture that we are trying to create,” Murren added.

Ed Bowers, Chief Executive of MGM Resorts Japan, commented: “We will include other Kansai companies in our consortium, say, more than 10 companies. MGM and Orix will each hold significant equity and other companies will have smaller equity stakes.”

Brendan Bussmann, partner and director of government Affairs at Global Market Advisors, said: “MGM’s exclusive focus towards Osaka is a big bet. It is too early for operators to be making potentially impactful decisions on their projects before the central government displays their path and process.”

Source: GMB / G3 Newswire