MGM Resorts International has announced that MGM Japan and joint-venture partner ORIX will be developing an Integrated Resort (IR) worth an estimated US$10 billion in Osaka.
This win has been a long time in the making. The entertainment company established MGM Resorts Japan in 2014, with an aim to enter Japan's integrated resorts market. It opened a permanent Osaka office in September 2018, two months after Japan's Integrated Resort Implementation Act in July.
Situated in Osaka's man-made Yumeshima island alongside Osaka Port, the project will offer some 2,500 guest rooms within MGM Osaka, MGM Villas, and MUSUBI Hotel.
Amenities include F&B, retail, spa, fitness facilities, and event spaces — 37,161sqm of conference facilities accommodating more than 6,000 attendees, some 30,650sqm of exhibition space, and 3,500 seats at the Yumeshima Theater.
The project is hoped to facilitate tourism in the surrounding area, including the Kansai Tourism Center, Garden Theater, Japan Food Pavilion, and Kansai Art & Culture Museum — towards building a gateway for wider tourism in Japan.
Some 15,000 employees are expected to be hired for this project, and MGM has projected an annual visitorship of 20 million when the IR is completed sometime in the second half of the 2020s — hopefully in time for World Expo 2025 in Osaka.
MGM Resorts CEO & President, Bill Hornbuckle, said: "I commend the city in undertaking a comprehensive and thoughtful process to meet its goal of developing a world-class integrated resort in Osaka. We will work closely with prefectural/city municipal governments to deliver an iconic, uniquely Japanese destination warranting Osaka's selection as home to one of Japan's first integrated resorts."
Source: M&C Asia