MGM says Osaka is its main target
During a full-year earnings call, MGM Resorts’ James Murren said the company “has adopted an Osaka-first strategy.”
Japan.- Though casino locations have yet to be decided, Osaka is the top candidate to host a gaming venue once all regulations have been laid out. That’s why MGM Resorts International has decided to set potential development in the city as a key target for their business.
During the full-year earnings call last week, company Chairman and Chief Executive James Murren highlighted the importance of the Japanese market.
“We just recently opened up an office in Osaka. We’ve committed now to the mayor and to the governor of Osaka,” he told financial analysts and added: “MGM has adopted an Osaka-first strategy. We are focusing our considerable resources on Osaka.”
According to Mr. Murren, the company expects an operator to be picked by Osaka in 2020, just before going to the central government.
“We think Osaka will be one of the three concessions that will likely be granted, but we know the central government has to select Osaka and its operator. That probably happens maybe 12, 18 months after Osaka itself picks its operator,” Murren stated. “Osaka’s goal is to have an IR opened by 2025. That’s when the World Expo is in Osaka.”
