Osaka: MGM-Orix IR expects US$3.87bn in annual gaming sales

Osaka has announced MGM-Orix as its IR partner.

09/28/21

Osaka Prefecture has revealed that the MGM-Orix request-for-proposal (RFP) submission predicts that its planned IR could generate JPY430bn (US$3.87bn) in annual gaming sales.

Japan.- According to the Osaka Prefecture, the planned MGM-Orix integrated resort development could generate JPY430bn (US$3.87bn) in annual gaming sales and JPY110bn non-gaming sales.

The MGM-Orix consortium had proposed to invest JPY1tn (US$9.1bn) and expects to welcome 20.5 million visitors per year. Osaka Prefecture is expected to submit its IR development plan to the national government in April 2022.

The target opening date for the IR has been pushed back to sometime between 2028 and 2030.

The Osaka government had asked potential contenders to assume the costs of extending the Osaka Metro line to the site, but authorities were afraid that as the only bidder MGM-Orix could renegotiate conditions.

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