MGM Resorts is expecting MGM Osaka “to be the largest and most successful integrated resort globally since Marina Bay Sands”.
That’s according to statements by Jonathan Halkyard, CFO of MGM Resorts, in the JP Morgan Forum: Strategic Growth and Innovation.
The executive highlighted that equity investment allocated for MGM Osaka this year is “probably $450 million” and that the company is “happy to put capital there”.
The group’s CEO Bill Hornbuckle noted that the group’s Japan venture is going to be “exceptional, world-class” and that “I’m betting my career on it, literally”.
Looking at Singapore’s current results, the executive noted that “if we start with a $2 billion cash flow business, we’re going to net about $800 million out of this, given our stake and given our share. It’s a meaningful business”.
The executive furthered that “it could potentially be bigger than that, but time will tell”, citing the success of the pachinko business which “to this day in Japan is over $30 billion”. The location is also highly promising, given that “we are an hour and a half closer from Shanghai and Beijing than Macau,” highlighted Hornbuckle.
The $12 billion MGM Osaka, developed in partnership with Japan’s ORIX Corporation, is on track to open in the third quarter of 2030, with anticipation it can attract around 20 million visitors annually.
