MGM Resorts Japan close to finalizing $10B casino
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LAS VEGAS (KLAS) — Japan approved a plan Friday to build its first casino, a $10 billion resort on the island of Osaka.
According to MGM Resorts International, the approval paves the way for MGM Japan and its joint-venture partner ORIX Corporation to finalize agreements on construction.
“It is an honor to be selected by the Government of Japan to develop a tourism project of this scale,” said MGM Resorts CEO & President Bill Hornbuckle. “We couldn’t be more excited to get started on the development of one of Japan’s first Integrated Resorts in the great City of Osaka, and we look forward to working with our partner ORIX and Osaka Prefecture/City to realize this long-held goal.”
After plans for the project were delayed due to the pandemic, details of the proposed development were unveiled last year when MGM Resorts International began the licensing process. The next step will be to finalize agreements on the construction or the resort.
According to a news release from MGM, “The proposed development is designed to transform the region into one of the world’s top entertainment and hospitality destinations and to serve as a hub for tourism across Japan.”
Along with a casino, the resort will feature hotels, a conference center, a shopping center, and a theater.
