MGM: Mega project in Japan

The US gambling group MGM is planning a gigantic casino resort in the Japanese port city of Osaka. According to matching media reports, the mega project should cost more than nine billion US dollars-the equivalent of 7.6 billion $ . MGM itself recently explained in a press release that the construction project is taking more and more shape and that the realization of the luxurious resort was planned together with the Japanese financial group Orix.

Completion until 2028

Since the casino resort in Osaka is to be built, MGM, according to his own statement, is currently trying to have a corresponding casinol license for the port city. The acquisition of the state concession accounts for the US gambling group would be the total expenditure for the construction project Climb at nine billion dollars. In Yen this results in a sum of a trillion.

Due to the huge financial expenditure and lengthy bauralization, both MGM and Orix assume a longer period of time to the opening of the casino resort. According to the current status, this will Year 2028 communicates as a deadline.

MGM Resorts International The US gambling group is one of the big players in the industry and combines numerous establishments under its roof. Las Vegas acts as the main location. In the gaming metropolis alone, MGM has around 19 casinos and hotels. Bellagio and Mirage are among the most famous facilities. Outside of the United States, the group has now gained a foothold in Dubai.

In addition to a luxurious casino, the mega project should also include countless hotels and restaurants. Various cultural and entertainment institutions as well as a conference center are also planned. A real highlight should also form a large investor for cruise ships. As a result, as many tourists as possible should be attracted. Orix and MGM want to take over the administration of the entire resort together. Only the gaming area falls into the Sole area of responsibility of the US company.

Budget for infrastructure

The casino resort should not only act as a crowd puller and attract numerous tourists to Japan, but also the Raise the infrastructure in Osaka. In this way, not only the work at the actual resort is considered in the project. In the building application, MGM and ORIX agreed to provide around $ 182 million for the local infrastructure. The focus is on a connection of the intended building plot to the city’s subway network. So far, the planners have left open in which other areas the budget will flow into.

The building application now lies with the authorities in Osaka, which will examine the offer of the two financially strong companies. However, industry experts assume that this Procedure only waste and the port city of such a massive investment in the local economy will not be refused.

Developed offer If the construction project is approved, MGM and Orix have time to send a completely drawn up offer to Japan’s central government by April 2023. This will monitor all further steps accordingly.

Gambling liberalization in Japan

The mega project should be the final proof that the Japanese government wants to move away from its conservative attitude towards gambling. Because by law are Winning games of all kinds in the country strictly prohibited. Accordingly, there are no classic arcades or casinos. With this restrictive approach, your own population is to be protected from the potential dangers of gambling.

Game cult in Japan Despite the gambling restriction, the Japanese citizens love to play. Absolute cult status enjoy the colorful and shrill arcades, in which “Pachinko” can be played. These are devices that resemble the western flipper machines. However, there are no money winnings, but only non -cash prizes. In principle, “Pachinko” can be compared to lots.

That Years of gambling in Japan Now, however, is coming to an end. Before the planned completion of the casino resort in 2028 come to the first casino opening at the latest in 2023. In Hokkaido, Sasebo, Yokohama and also the island of Yumeshima, a casino is supposed to start operating. Among other things, the companies are behind the plans Las Vegas Sands und Wynn Resorts.

EU competition in the Japanese gambling market

Not only US companies smell their chance in Japan. The French gaming group “Partouche” should also get a project on the way. According to media reports, planned is planned Casino resort in the Prefecture of Wakayama. The French industry player is currently offering a casinol license together with the Japanese investor Clairvest Neem Ventures. Overall, there is an investment of around $ 4.3 billion.

Market development Japan is considered an immaculate market within the gambling industry. Big Player from the United States has been trying to get a foot into the door for years. Due to the planned construction projects from MGM, Las Vegas Sands and Wynn Resorts, it seems as if the years of persuasion have now bears fruits for the Japanese government.