MGM Resorts Chairman and CEO James Murren has told the Japan Times that there is still enough time to open the Osaka Yumeshima IR before the 2025 World Expo, and thus capturing the benefits of having an estimated 28 million people coming to the attractions next door.
“I don’t have doubts about the abilities of the architects we have on board, or those of the civil planners and general contractors. The challenge to meeting the March 2025 opening will be getting through the permit process,” Murren said.
An increasing number of analysts have predicted that this ambitious timeline will ultimately prove to be infeasible.
Near the end of 2018, MGM Resorts entered into an equal partnership with the Orix Corporation, a fact which was publicly revealed in March. To date, MGM is still the only IR operator which has unveiled one of its potential consortium partners.
In Osaka, MGM’s competitors are likely to be Sands, Melco, Galaxy, Genting, Wynn, and Caesars.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Kenanga Research expects Malaysia's casino operator to rebound more swiftly than its number forecast operators, as border restrictions ease. The sector valuation remains attractive as gaming stocks were still 15-26 percent cheaper than a year ago.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.