MGM ready to invest $9bn in Osaka
The CEO of the company said that MGM will invest US$9 billion if it wins a license to build an IR.
Japan.- James Murren, CEO and chairman of MGM Resorts International, confirmed that the company will invest US$9 billion if it wins its bid to build an integrated resort (IR) in Yumeshima, Osaka. The official said earlier this week that Japan and Macau are the markets that interest the company the most among Asian countries.
“Osaka has the potential to become the center of MICE in Asia. We want to create something that reflects Japan’s cutting-edge technology and food culture,” said Murren after visiting Osaka Governor Ichiro Matsui and Osaka Mayor Hirofumi Yoshimura. The Governor said that he wanted an IR Implementation Bill signed and enacted into law by mid-2018.
Osaka plans to open an IR in Yumeshima before the 2025 World Expo and in order to make that happen they need a legislation as soon as possible. “Japan and Macau are the only major interests we have,” said Murren, as it is focused on getting a casino license in Japan and expanding operations in Macau.
The CEO confirmed that he visited the former 15 times in the last three years to meet potential business partners. “We don’t need to be in every market that allows for resorts. I think regulatory, economic, cultural and social opportunities in Japan are vastly greater than what we would find interesting in the Philippines,” said Murren earlier this week.
