MGM Resorts agrees landmark $2billion casino deal with Orix Corporation

Article by : Charles Perrin Sep 30, 2023

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MGM Resorts has reportedly thrashed out a landmark deal that could see them open their first integrated casino resort in Japan.

The agreement struck with Japanese firm Orix Corporation is thought to be $ 2.09 billion.

This project has been the culmination of years of hard work, despite MGM winning the contract to develop the site in Yumeshima, Osaka.

Yes, in 2018, the Japanese government paved the way for constructing such a complex following the enactment of legislation. However, unexpected delays meant that it wasn’t until 2021 that the new law came into effect.

The integrated casino resort will be the first casino to open in Japan.

MGM Resorts and Orix, meanwhile, are adamant that the deal will fuel further growth from an economic perspective, as well as drive up tourism levels.

Reacting to the agreement, MGM Resorts president and CEO Bill Hornbuckle said: “This is a significant moment for our company as we begin to focus on executing our vision to build a world-class integrated resort in Osaka.

“We remain passionately committed to this project. We look forward to bringing Japan and Osaka the best in–class gaming, entertainment, dining and retail experiences.

“Our vision is to bring MGM’s ‘wow’ DNA from Las Vegas to Osaka and build a resort that will be a source of great pride in the community.”

An opening date is yet to be confirmed, although growing speculation exists that the integrated casino resort won’t be ready until 2030.

It has been a long road to get to this point. However, whisper it quietly: a new casino resort could be coming to Japan someday.

While MGM and Orix will undoubtedly be happy that things are moving in the right direction, they will be itching to see the resort up and running without further setbacks.