MGM Resorts Selected by Osaka as Integrated Resort Partner
LAS VEGAS, September 28, 2021 / PRNewswire / – MGM Resorts International (NYSE: MGM) today announced that MGM Japan, along with its joint venture partner ORIX, has been selected by Ossaka as an integrated resort partner for the region. that of Osaka the selection of the MGM-ORIX consortium marks an important step in MGM’s long-term offering to develop one of the from Japan first integrated stations.
Proposal details of approximately 10 billion dollars development were also unveiled, showcasing MGM’s vision to bring a world-class resort experience to Ossaka which is designed to transform the region into one of the best entertainment and hospitality destinations in the world and which will serve as a hub for tourism across Japan.
“It is an honor to be chosen as that of Osaka partner in the development of an integrated station. I commend the city for undertaking a comprehensive and thoughtful process to achieve its goal of developing a world-class integrated resort in Ossaka“said CEO and President of MGM Resorts Bill hornbuckle. “We will work closely with the municipal administrations of the prefectures / cities to offer an iconic and unique destination in Japan that justifies that of Osaka selection as domicile of one of the from Japan first integrated stations. “
Regarding the emerging opportunity in Japan, Hornbuckle added, “Nowhere is the future of tourism and hospitality more exciting than Japan, and Ossaka is the perfect place to start this future. We couldn’t be more excited to help improve and grow that of Osaka reputation as a world-class destination and gateway to the world to the wonders and rich history of Japan. “
that of Osaka MGM-ORIX selection is one of many steps in the post 2018 licensing process passage of from Japan Law of implementation of integrated complexes. The next step is for MGM, with Ossaka prefecture / city and ORIX, to submit a Land Use Plan to from Japan central government during the October 2021 To April 2022 period of application. Integrated resort licenses are expected to be issued by the central government in 2022. If selected to receive a license, MGM expects an opening date in the second half of the 2020s for the Ossaka project.
* * *
Overview: Osaka Yumeshima Integrated Complex Project
Proposed to be located at the water’s edge on that of Osaka Yumeshima Island, the project is designed to help establish Japan as the world’s leading tourist destination, with Ossaka serving as an internationally renowned city for international business, travel and world-class amenities and entertainment. The company has a full-time development team in Japan for over seven years, engaging with from Japan business communities, immersing themselves in Japanese culture and laying the foundations for a project that embodies from Japan unique history and heritage.
Project renderings can be found HERE.
MGM Resorts strives to provide world-class entertainment and an unparalleled resort experience at Japan in a way that only MGM can deliver, through exciting cultural events, convention expertise and high-end dining and retail experiences with broad national and international appeal.
- Hotel and amenities: MGM Osaka, MGM Villas and MUSUBI Hotel (2,500 rooms in total). Variety of food and beverage offerings, retail space, spa, fitness center, banquet halls.
- Meetings and congresses: Approximately 400,000 square feet of conference facilities, with a capacity to accommodate over 6,000 visitors. In addition, approximately 330,000 square feet of exhibition space, including an innovation lab.
- Entertainment: Yumeshima Theater (Around 3,500 seats).
TOURISM & ECONOMIC DEVELOPMENT
MGM focuses on generating significant economic activity for the region and increasing employment opportunities.
- Initial investment: Approximately 10 billion dollars.
- Estimated number of annual visitors: About 20 million.
- Projected number of employees: About 15,000.
- Promotion of tourism everywhere Japan: Support and facilitate the formation of a “Japanese Tourism Showcase” plan for the area surrounding the resort to establish Ossaka as a gateway to wider tourism in Japan. Facilities include Kansai Tourist Center, Garden Theater, Japanese Food Pavilion, and Kansai Art and Culture Museum.
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (NYSE: MGM) is a global S&P 500® entertainment company with national and international locations offering premier hotels and casinos, state-of-the-art meeting and conference spaces, incredible live and theatrical entertainment, and a huge range of food, nightlife and retail offerings. MGM Resorts creates immersive and iconic experiences with its suite of Las Vegas-inspired brands. MGM Resorts’ portfolio includes 31 unique hotel and destination game offerings in United States and Macau, including some of the industry’s most recognizable resort brands, such as Bellagio, MGM Grand, ARIA, and Park MGM. The company’s 50/50 business, BetMGM, LLC, offers sports betting and online gaming in the United States through market-leading brands including BetMGM and partypoker. The Company is currently pursuing a targeted expansion in Asia thanks to the resort opportunity integrated into Japan. Through its “Focus on What Matters: Embracing Humanity and Protecting the Planet” philosophy, MGM Resorts is committed to creating a more sustainable future, while striving to make a bigger difference in the lives of its employees, customers and the communities in which it operates. MGM Resorts international employees are proud that their company is recognized as one of the World’s Most Admired Companies by FORTUNE® magazine. For more information, please visit us at www.mgmresorts.com. Please also connect with us @MGMResortsIntl on Twitter as good as Facebook and Instagram.
* * *
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve risks and / or uncertainties, including those described in the Company’s public documents with of the Securities and Exchange Commission. The Company has based its forward-looking statements on the current expectations and assumptions of management and not on historical facts. Examples of such statements include, without limitation, the Company’s expectations regarding the development of an integrated complex at Japan, including the planned opening date, planned details of the complex and planned investment amounts. These forward-looking statements involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those shown in these forward-looking statements include the continued impact of the COVID-19 pandemic on the Company’s business, the effects of economic and market conditions. market in the markets in which the Company operates and competes with other travel destinations through United States and the world, design, timing and costs of expansion projects, including integrated resorts proposed in Japan, risks relating to international operations, permits, licenses, financing, approvals and other contingencies relating to growth in new or existing jurisdictions and additional risks and uncertainties described in the Form 10-K reports , Company Form 10-Q and Form 8-K (including any changes to these reports). By providing forward-looking statements, the Company assumes no obligation or obligation to publicly update such statements as a result of new information, future events or otherwise, except as required by law. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to such other forward-looking statements.
SOURCE: MGM Resorts International
MGM RESORTS CONTACTS:
SOURCE MGM Resorts International