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.
The project is spearheaded by MGM Resorts International and Orix Corporation, who each hold a 42.5 percent stake in the development.
The new bank loan was provided by two banks based in Japan: Mitsubishi UFJ Financial and Sumitomo Mitsui Banking.
The new loan is reported to complete the financing for MGM Osaka, which is expected to cost some $8.2 billion.
The loan also represents the largest co-financing endeavor in the country’s history, also being used for the nation’s first integrated resort, expected to open in 2030.
The group broke ground on the project last December and is estimating an IR with some 2,500 hotel rooms, MICE and just 3 percent of the overall floor space dedicated to the casino.
