Osaka, Japan has selected MGM Resorts International, together with its joint-venture partner ORIX, as its integrated resort partner.
MGM has also unveiled details of the proposed approximately $10 billion development (rendering shown at top of post), which is expected to draw 20 million visitors annually and employ 15,000 people.
“It is an honour to be selected as Osaka’s partner in developing an integrated resort. I commend the city in undertaking a comprehensive and thoughtful process to meet its goal of developing a world-class integrated resort in Osaka,” said Bill Hornbuckle, CEO and president, MGM Resorts. “We will work closely with prefectural/city municipal governments to deliver an iconic, uniquely Japanese destination warranting Osaka’s selection as home to one of Japan’s first integrated resorts.”
Osaka’s selection of MGM-ORIX is one of several steps in the licensing process following the 2018 passage of Japan’s Integrated Resort Implementation Act. The next step is for MGM, together with Osaka prefecture/city and ORIX, to submit an Area Development Plan to Japan’s central government during the October 2021 to April 2022 application period.
Integrated resort licenses are expected to be issued by the central government in 2022. If selected to receive a license, MGM anticipates an opening date in the second half of the 2020s for the Osaka project.
MGM has had a full-time development team in Japan for more than seven years, engaging with the country’s business communities, immersing in Japanese culture, and laying the foundation for a project that embodies Japan’s unique history and heritage.
Details of the resort, which is proposed to be located along the water on Osaka’s Yumeshima Island, include:
- Hotel & Amenities: MGM Osaka, MGM Villas, and MUSUBI Hotel (2,500 total guestrooms). Variety of dining and food & beverage offerings, retail space, spa, fitness center, and banquet halls.
- Meetings and Conventions: Approximately 400,000 square feet of conference facilities, with capacity to accommodate more than 6,000 visitors. In addition, approximately 330,000 square feet of exhibition space, including an Innovation Laboratory.
- Entertainment: Yumeshima Theater (approximately 3,500 seats).