• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

MGM expects autumn announcement on Japan IR licence

Jun 21, 2022 Newsdesk Japan, Latest News, Top of the deck  


MGM expects autumn announcement on Japan IR licence

Casino operator MGM Resorts International is expecting the Japanese national authorities to make an announcement in the autumn regarding the country’s first casino licences. That is according to the company’s chief financial officer, Jonathan Halkyard, who says the group anticipates being one of the pioneer operators of an integrated resort (IR) in that country.

Mr Halkyard was speaking on Monday at the Jefferies Global Consumer Conference.

On April 26, Osaka and Nagasaki prefectures respectively announced they had submitted to the national government their IR District Development Plans, in time for an April 28 deadline. They were the only local authorities to make bids.

A unit of MGM Resorts International and Japan’s Orix Corp are Osaka’s private-sector partners for the local tilt for an IR. The resort complex (pictured in an artist’s rendering) would – according to previous statements – require an initial investment of JPY1.08 trillion (US$8.0 billion, at current exchange rates), with a target date of 2029 for opening it.

In his Monday remarks, Mr Halkyard said MGM Resorts had “been working on Japan for many years,” adding that the group would expect a decision “in the September time frame” on whether the Osaka scheme has been approved by the national government.

“[We would expect] to be awarded a licence in the fall. We would then be under way as we get into 2023,” said the group’s CFO. “This is a large project; it’s going to take a number of years to complete.”

The executive said additionally that MGM Resorts would “wait until things are a bit more advanced before getting into the specifics about the [project’s] cost and programme.”

He added: “We think it’s a massive market opportunity for the company … and is going to be just a phenomenal integrated resort with strong returns.”

Earlier this month, a civil group in Osaka said it had collected 208,552 signatures and submitted them to the prefecture’s Election Administration Commission, aiming for a referendum on the metropolis’ procedures in seeking an IR. A prefecture-level referendum would need the support of the prefectural assembly.

The other local-government body in the metropolis – the Osaka city council – has already rejected an earlier attempt by anti-casino groupings to have a referendum on the IR topic.


  • tweet
Related articles
  • Former casino suitor Wakayama to close IR office
    Former casino suitor Wakayama to close...

    Jun 28, 2022  

  • Antis claim right to propose Osaka casino referendum
    Antis claim right to propose Osaka...

    Jun 28, 2022  

More news
  • Sega Sammy to launch Genesis Crest 43J cabinet in Asia
    Sega Sammy to launch Genesis Crest 43J...

    Jul 01, 2022  

  • Macau monthly GGR for June worst since Sept 2020
    Macau monthly GGR for June worst since...

    Jul 01, 2022  


Latest News

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Sega Sammy to launch Genesis Crest 43J cabinet in Asia

Jul 01, 2022  

Casino equipment supplier Sega Sammy Creation Inc said in a Friday release it was debuting its Genesis Crest 43J cabinet in Asia. The product will be available at an in-person trade show, G2E Asia:...
Read More
Macau monthly GGR for June worst since Sept 2020

Macau monthly GGR for June worst since Sept 2020

Jul 01, 2022  

Kangwon 2021 average bet 61pct above foreigner casinos

Kangwon 2021 average bet 61pct above foreigner casinos

Jul 01, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


638

Aggregate number of Covid-19 cases in the latest Macau outbreak, as of Thursday-end



Most Popular

  • 5-casino Thai market ok says National Assembly committee5-casino Thai market ok says National Assembly committee June 30, 2022
  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • Macau drops 48hr nucleic acid test for casino staff, guestsMacau drops 48hr nucleic acid test for casino staff, guests June 30, 2022
  • Universal hopes Okada Manila biz listed before Sept 30Universal hopes Okada Manila biz listed before Sept 30 June 30, 2022
  • Only 2 Macau satellites closed as concessions extendedOnly 2 Macau satellites closed as concessions extended June 29, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us