some analysts forecasting $10 billion to $15 billion<\/a> in construction costs for a Japan casino-resort, regardless of the city it’s located in, reducing property expenditures could be compelling to MGM as the company looks to bolster its finances.<\/p>\nAssuming Osaka is one of the regions that lands an integrated resort, officials there will likely push the selected operator to have the venue open and functional by late 2024, because the city hosts the World Expo in mid-2025.<\/p>\n
Fair Costs<\/h2>\n
In the IAG <\/i>interview, Mayor Matsui said the Yumeshima land would generate $554 million in a one-off sale, far less than the $4.2 billion Blackstone is shelling out for Bellagio’s real estate assets and well below the $825 million MGM is getting for Circus Circus.<\/p>\n
Matsui envisions a gaming company paying $23 million annually on a 30-year lease, or $690 million.<\/strong> Assuming such an accord is reached, the mayor’s expectation that leasing the land is better for Osaka than a sale would prove accurate.<\/p>\n","protected":false},"excerpt":{"rendered":"Osaka, one of the Japanese cities leading the competition there to become home to an integrated resort, is considering leasing land to the gaming company selected to operate the venue rather than selling the property outright. Osaka, Japan’s third-largest city behind Tokyo and Yokohama, wants an integrated resort to be located in Yumeshima in Osaka […]<\/p>\n","protected":false},"author":46,"featured_media":117891,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810],"tags":[],"acf":[],"yoast_head":"\n
Osaka Mayor Matsui Wants City to Lease, Not Sell Land to Casino Bidder<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n