MGM shares economic plans for Japan
The company revealed details about its potential plans in the Asian country.
Japan.- MGM Resorts International, as a potential operator of a new casino in Japan, revealed its plans for the economic structure of the company’s business in the Asian country. According to Jim Murren, chairman and chief executive of US casino operator, if the company joins a consortium to operate in the country, they are “not having a marginal stake” there.
“In terms of our minimum level of consortium investment [for Japan], we are not going to be interested in being a consortium partner with 20 or 30 percent of something,” the executive said on Thursday during the firm’s analyst and investor day hosted in Las Vegas, as revealed by GGRAsia. “I’m not sure if we’ll have a majority [stake] or not – I don’t think anyone really knows that for sure – but we are going to have a very significant equity investment [in Japan] and we are going to be in a consortium that values MGM’s development and management and compliance expertise in the gaming sector.”
Last year, MGM Resorts Japan revealed that it has become the Official Partner with the Osaka government in order to bid to be the host of the 2025 World Expo that is set to be held at Yumeshima, one of the possible locations for an integrated resort in Japan.
The country’s Congress is yet to approve the Integrated Resorts (IR) Implementation Bill, which is one of the main topics for lawmakers in Japan as they race against the clock to pass it before the current Diet session ends on June 20th.
