Osaka Casino Expected to Produce $4 Billion by Early 2030s
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MGM’s near $10bn integrated resort project in Osaka has the potential to produce north of $4bn in revenue at the start of the next decade, according to an analyst at Morningstar.
This would mean the company would outpace the pre-pandemic $3bn and $4bn of Las Vegas Sands’ Singapore and Venetian Macau facilities, respectively.
Dan Wasiolek, senior equity analyst at Morningstar, said that Osaka was already seeing over 12 million international visits pre-Covid and the new development should attract many of those already visiting, plus new patrons from parts of China.
“This view is buoyed by the resort’s proximity to Osaka’s airport and business centre, which should be enhanced by new transportation infrastructure,” he notes.
The designated location for Osaka IR is a 490,000sq.m plot on the north side of Yumeshima, an artificial island in Osaka Bay. The casino is set up to open in 2029 or 2030.
The Osaka IR initially targets $3.6bn of revenue annually, mostly from the gaming business and forecasts it will attract six million international tourists and 14 million domestic visitors.
