MGM Has “Out of Jail Card” for Osaka IR Bid

MGM is sure it wants a bite out of the Japanese integrated resort pie, but it’s not sure it wants to nibble at anything stale. That is why MGM Osaka will have an “escape clause” should things go pear-shaped, Inside Asia Gaming, a leading local publication for the region writes.

MGM Osaka Project Has Contingencies to Never Happen
MGM is venturing into Osaka as part of a consortium with ORIX Corp, as is the original application prerequisite whereby overseas companies must form an investment entity with a local partner. The clause would only apply if the government certified the Osaka bid later this year for an integrated resort.

MGM has outlined three specific conditions that must be met by the government so that the clause may remain inactive. They want to see reasonable reassurances that tourism will pick up once again in the wake of a devastating COVID-19 pandemic.

There will be demands for additional research to ensure that the future framework that is set by the Japan Casino Regulatory Commission would guarantee international competitiveness for the project and that potential soil contamination of the site of Yumeshima Island can be properly addressed.

Source: https://www.gamblingnews.com/news/mgm-has-out-of-jail-card-for-osaka-ir-bid/