MGM CEO: Osaka IR may not open this decade if approval doesn’t come soon
Bill Hornbuckle, MGM president and CEO, is cautious about reaching the planned opening in 2029.
Japan.- Osaka and Nagasaki were hoping to have their integrated resort plans approved by now. However, Japan’s central government has yet to make a decision on the matter. As a result, the companies involved in what were the only two bids for a possible three licences are starting to think that they won’t make the planned opening dates.
During a presidential of annual results, MGM president and CEO Bill Hornbuckle expressed frustration at the government’s lack of response to a proposal submitted around 10 months ago. Hornbuckle said he hoped there would be news soon but that if not the objective of a 2029 opening would be missed.
The process is currently being overseen by the Ministry of Land, Transport and Infrastructure, which has been consistently asking questions about the project. MGM Resorts and its local partners, including Orix Corp, have been selected as the preferred private-sector providers for a JPY1.08tn (US$8.25bn) casino resort in Osaka in September 2021.
The project includes three hotels providing approximately 2,500 rooms, a MICE facility measuring 68,000 square meters, a 3,500-seat theatre and various Japanese cultural experiences and retail facilities. It would employ about 15,000 people.