Sunday, November 28, 2021

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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. 

Yokohama dropping out of IR race won’t impact Osaka: Governor

Osaka governor Hirofumi Yoshimura said that the withdrawal of Yokohama from the integrated resort race will not impact their own IR plans.

Osaka IR in line with government vision, Wakayama approves Clairvest

MGM Resorts and Orix Corp.'s $9 billion Osaka IR in are in line with what the government had envisaged. Wakayama has officially approved Clairvest Neem Venture’s plans to develop an integrated resort in the city.

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.

Your Daily Asia Gaming eBrief: Osaka IR looks lonely

Once the most hotly anticipated IR development, prospects for the Osaka Yumeshima development are ice cold. Our AGB Nippon weekly piece will examine four major factors that killed Osaka’s IR momentum.

Osaka IR looks lonely after local firms eschew contracts

At one point the most anticipated IR development, these are now lonely days for the Osaka Yumeshima IR, whose buzz has become nearly inaudible, following a dramatic shift in local business attitudes.

Osaka frets over loss of leverage and scaled-back IR ambitions

The authorities in Osaka are concerned that they have lost leverage in negotiations with the MGM-Orix IR consortium, and that poor business conditions will force a significant scaling back of ambitions, according to the reporting of the Nihon Keizai Shinbun.

Osaka remains stuck with a single bidder

The Osaka government announced on Tuesday that its effort to briefly reopen its RFP process to additional IR consortiums, did not result in any new takers.

Blackstone buys Japanese hotels, including near Osaka Yumeshima

Blackstone, now bidding for ownership of Crown Resorts, has announced a binding agreement to buy eight hotels in Japan from Kintetsu Group Holdings, including one very close to Yumeshima in Osaka, expected to become host to its own major IR.

Japan’s IR process lurches forward with Nagasaki selections, Osaka invite

Japan’s IR process appears to move forward in fits and starts, but there were two noteworthy events to emerge at the end of the week that advance the slow process towards the country's first casinos.