In a presentation at The Bank of America Merrill Lynch 2017 Japan Conference last Thursday, MGM Resorts International CEO James Murren took much care to emphasize his company’s vision for what he called a “Japanese-led” IR consortium.
Murren did not specify whether a “Japanese-led” consortium meant that MGM was seeking only a minority stake in an IR, and he didn’t suggest which companies might become his company’s partners, but he did broadly outline which areas he envisioned each side taking charge of.
Murren’s presentation stated that the Japanese partners would likely handle local food culture expertise, customer service, technology, innovation, and project development experience within the Japanese context. Meanwhile, what MGM would bring to the table is global entertainment experience, marketing reach, and operations of MICE and casinos.
MGM executives have repeatedly suggested that they are really only interested in the three major cities of Tokyo, Yokohama, and Osaka, but among these three only the latter city is currently lobbying the central government to be licensed.