Saturday, July 13, 2024

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MGM Osaka secures $3.4 billion loan from banks

The group behind the multi-billion-dollar integrated resort in Japan, led by MGM Resorts, has closed a deal for a $3.4 billion loan from a group of banks.

Thailand could open first casino by 2029 ahead of MGM Osaka

Amid an accelerating move towards casino legalization in Thailand, the country could see its first Entertainment Complexes (EC) by 2029, according to research by Maybank Investment Bank.

MGM-Orix Osaka IR project facing possible further delays due to the construction of the Osaka 2025 pavilion

According to the Japan Times, preparatory works for developing the Yumeshima artificial island in Osaka Bay started less than 500 days before the expo is due to open in spring, 2025.

MGM Resorts reaches agreement for IR project in Osaka

MGM Resorts says that it has finally reached an implementation agreement for its massive IR project in Osaka, Japan.

Your Daily Asia Gaming eBrief: MGM’s Osaka IR opening delayed to autumn 2030, price balloons $1.3bln

And those who have been waiting to see an Integrated Resort in Japan are having their patience tested yet again, as MGM's Osaka IR project is now only expected to open in the autumn of 2030, at an additional cost of $1.3 billion. Meanwhile, down under, Australia's regulators are only likely to let up on their industry crackdown within three to five years, and Crown and The Star are seeking to position themselves for the win. And in South Korea, Jeju Dream Tower's casino revenue fell in August despite an increase in visitation.

MGM Resorts says next three months to be “as hard as it’s ever going to get” as it targets Osaka IR opening in 2030

MGM Resorts has announced that it is hoping to break ground on its Osaka integrated resort project “either late this year or first part of next year,” noting that it is hoping to open within the first or second quarter of 2030.

MGM-Orix consortium confirmed as Osaka IR partner, details released

MGM Resorts on Tuesday confirmed that along with its joint-venture partner Orix, it has been selected by Osaka as the region’s integrated resort partner. 

MGM-Orix consortium proposes US$9.1 billion IR for Osaka

In what is widely regarded as positive news by local observers, it has emerged that the MGM-Orix consortium is proposing a JPY1 trillion (US$9.1 billion) investment level for its Osaka Yumeshima IR.

Osaka reopens IR process to allow challengers to MGM

The government of Osaka has decided to reopen its IR bidding process to allow the possibility of challengers to the MGM-Orix consortium which has hitherto been the only accepted applicant for the Yumeshima site.

MGM online gaming moves could impact Osaka bid

As Japan sinks into a deeper crisis over the Covid-19 pandemic, it would be natural that it might be overlooked. Indeed, the sensitivity of Japanese policymakers to overseas developments is often tenuous at best. But for the future of Japanese IRs generally—and for Osaka most specifically—stakeholders should be quaking with alarm over the most recent headlines regarding MGM Resorts.