MGM Reaffirms Commitment to Osaka IR Bid

MGM Resorts took the opportunity of the local withdrawal of a major rival, Las Vegas Sands, to reaffirm that its IR bid in Japan was clearly focused on Osaka Yumeshima.

In a press release issued last Thursday, MGM Chairman and Chief Executive Officer Jim Murren stated, “MGM Resorts remains deeply committed to pursuing an integrated resort in Osaka, Japan. We announced our ‘Osaka First’ strategy and have not wavered from that plan. We have always had confidence in our position, as what we will bring to Osaka is something only MGM Resorts can deliver.”

He added, “We are also excited about our partnership with Orix, a highly respected Japanese company with a strong presence in Osaka, as we jointly pursue this venture. Together, we are working to submit our response to the ‘request for concept,’ and look forward to the next steps in the process.”

The announcement by the municipal government of Yokohama last week that it would seek an IR license at the Yamashita Pier location shook up the race, raising a clearer prospect that Osaka would not be alone in hosting a major urban IR. Las Vegas Sands, in response, announced that it would give up its efforts in Osaka. For MGM Resorts, however, its strategy of openly aiming at the Kansai region instead of the Kanto region has remained unshaken. (AGB Nippon)