• 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 shuns marginal stake in a Japan casino resort: mgmt

May 11, 2018 Newsdesk Japan, Latest News, Top of the deck  


MGM shuns marginal stake in a Japan casino resort: mgmt

Jim Murren, chairman and chief executive of U.S. casino operator MGM Resorts International, says the firm would not be interested in having a marginal stake in any consortium it might join to build a gaming resort in Japan.

“In terms of our minimum level of consortium investment [for Japan], we are not going to be interested in being a consortium partner with 20 or 30 percent of something,” the executive said on Thursday during the firm’s analyst and investor day hosted in Las Vegas, United States.

He added: “I’m not sure if we’ll have a majority [stake] or not – I don’t think anyone really knows that for sure – but we are going to have a very significant equity investment [in Japan] and we are going to be in a consortium that values MGM’s development and management and compliance expertise in the gaming sector.”

MGM Resorts had previously indicated that any consortium it might work with was likely to be “Japanese-led”.

Investment analysts say Japan’s nascent casino industry could move nearer to realisation with the possible passage this year of the Integrated Resorts (IR) Implementation Bill.

The IR Implementation Bill – as submitted to Japan’s parliament late last month – proposes an initial cap of three casino resorts nationwide, and a fixed tax rate of 30 percent on any casino gross gaming revenue (GGR) generated by that country’s proposed gaming resorts. It sets a JPY6,000 (US$55) casino entry fee for locals for 24-hour access, and limits casino visits by Japanese to three times a week and 10 times per month in aggregate.

Commenting on the proposed tax rate for Japan’s casino industry, Mr Murren said MGM Resorts was “very satisfied” with the existing proposal relative to what it could have been and based on how much the company was “thinking about investing” in that country.

“It’s all a balance between tax rate and every other element that goes into what you would do in terms of scaling the project,” said MGM Resorts’ CEO.

Mr Murren added that the firm was aware that Japan’s goal “is not to maximise gaming revenue, but to drive international tourism”.

“There’s really no way for the country to drive a level of international tourism … without that kind of infrastructure investment by the private sector,” he stated.

In a separate occasion, Ed Bowers, senior vice president of global development at MGM Resorts, said the firm’s management hoped the IR Implementation Bill would “receive Diet approval within the next few weeks”. The executive was speaking on Friday, during the second day of the Japan Gaming Congress in Tokyo.

Mr Bowers, who is also chief executive of MGM Resorts Japan LLC, said additionally that the gaming industry “stands ready to provide input on any proposed [new] regulations” by the Japanese government.

“The opportunity to provide comments will help ensure the regulations are the best possible regulations and do not result in any unintended consequences,” he said during a presentation at the conference.


  • tweet
Related articles
  • Konami gaming segment rev up 49pct in 9 months to Dec
    Konami gaming segment rev up 49pct in 9...

    Feb 02, 2023  

  • MGM equity input for Japan IR may reach US$2.5bln: S&P
    MGM equity input for Japan IR may reach...

    Jan 17, 2023  

More news
  • Return of tours good for mass floor traffic: observers
    Return of tours good for mass floor...

    Feb 03, 2023  

  • S.Korea casino op GKL’s January sales up 230pct y-o-y
    S.Korea casino op GKL’s January...

    Feb 03, 2023  


Latest News

Return of tours good for mass floor traffic: observers

Return of tours good for mass floor traffic: observers

Feb 03, 2023  

The imminent return of package tours from mainland China will not only help boost Macau’s tourism businesses, but is also expected to help casinos gain more foot traffic in their mass gaming...
Read More
S.Korea casino op GKL’s January sales up 230pct y-o-y

S.Korea casino op GKL’s January sales up 230pct y-o-y

Feb 03, 2023  

Aristocrat completes acquisition of Roxor Gaming

Aristocrat completes acquisition of Roxor Gaming

Feb 03, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We are confident that the Philippine gaming sector will be able to fully recover, or even surpass its pre-pandemic earnings soon”

Alejandro Tengco

Chairman and chief executive of Pagcor



Most Popular

  • Jaw-dropping wagers in Macau CNY survey: CitigroupJaw-dropping wagers in Macau CNY survey: Citigroup February 2, 2023
  • Return of tours good for mass floor traffic: observersReturn of tours good for mass floor traffic: observers February 3, 2023
  • Galaxy Macau’s new arena to host K-pop group BlackpinkGalaxy Macau’s new arena to host K-pop group Blackpink January 9, 2023
  • Aruze Gaming America opts financial rejig after legal matterAruze Gaming America opts financial rejig after legal matter February 2, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us