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MGM Resorts CEO in critical period ensuring progress of Japan’s first IR

March 15, 2024 Japan Casino & HotelIndustry Updates

The CEO and President of MGM Resorts International, Bill Hornbuckle, emphasized the critical importance of the summer of 2019 in ensuring the timely completion of MGM Osaka, Japan’s first integrated resort (IR) with a casino, set to open in 2030.

During the JP Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, Hornbuckle stressed the need of keeping planning and being ready until the summer of 2025, when construction on the pylons for the MGM Osaka project on Yumeshima island in Osaka Bay starts.

Speaking about the need of starting the pylon stage, Hornbuckle said, “What needs to happen here is that we literally get into the ground with pylons.” It would start in the middle of summer next year, he added, and take around three years to complete. He believes that once this phase starts, the path to the 2030 goal would become more obvious.

Jointly developed by Orix Corp of Japan and other regional partners, MGM Osaka has an initial cost of JPY1.27 trillion (US$8.56 billion). An important partner in the project is MGM Resorts, which also has a controlling position in MGM China Holdings Ltd., the operator of casinos in Macau.

Hornbuckle spoke about the MGM Osaka project and hinted at the prospect of legalizing casinos in Thailand. He mentioned the ongoing efforts of MGM Resorts and other business associations to look into potential in Thailand, including looking into potential locations and collaborators. However, he said that the regulatory framework and support from the government would be necessary for the licensing of casinos in Thailand to be successful.

Original story by: GGRAsia

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