{"id":126928,"date":"2020-02-14T09:06:48","date_gmt":"2020-02-14T17:06:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=126928"},"modified":"2020-02-14T10:26:49","modified_gmt":"2020-02-14T18:26:49","slug":"mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/","title":{"rendered":"MGM Resorts Nabs Pole Position in Race for Osaka Integrated Resort"},"content":{"rendered":"

MGM Resorts International and its local partner, Orix, have been declared the front-runner to bring an integrated resort to Osaka, the local government said today.<\/p>\n

\"\"
As expected, MGM Resorts is leading the race for a gaming license in Osaka. (Image: CNN)<\/figcaption><\/figure>\n

The Osaka competition revolves around three operators \u2013 MGM, Galaxy Entertainment Group, and Genting Singapore \u2013 all of which have footprints in the Asia-Pacific region. But analysts and industry observers have long viewed Las Vegas-based MGM as holding prime position in the race<\/a>.<\/p>\n

Japan is expected to move forward on announcing winning locations for three gaming licenses after the Summer Olympics conclude later this year. Tokyo, which is hosting the games, along with Yokohama and Osaka \u2013 the country’s three largest cities \u2013 are considered the likely destinations for the initial batch of integrated resorts in the Land of the Rising Sun.<\/p>\n

A gaming venue is integral to Osaka’s efforts to boost tourism and shore up its finances, which include its first deficit in four years.<\/p>\n

We want Osaka to continuously grow and to become an international city,\u201d said Mayor Ichiro Matsui at a press conference on Thursday.<\/p><\/blockquote>\n

Confirmation of MGM’s leading position in the Osaka fray comes just two days after Chairman and CEO Jim Murren said he’s leaving those positions. Although Murren is dropping those titles before his contract expires, he pledged on a conference call<\/a> with analysts that he’ll remain active in the Japan effort, saying \u201cI\u2019ll probably be even more involved in the Japan project as time goes by.\u201d<\/p>\n

Long Way to Go<\/h2>\n

MGM appears to be in the catbird seat in Osaka now. But policymakers in the city won’t make an official announcement on their desired integrated resort partner until June, meaning it’s possible a rival could vault to the top spot.<\/p>\n

\n

Market observers still view Genting Singapore as a credible threat to MGM because of the desire of Japanese regulators to emulate a \u201cSingapore model.\u201d<\/p>\n<\/div>\n

Genting investors recently approved a request from the company to allocate $10 billion<\/a> for a gaming property in the Land of the Rising Sun. Analysts believe $10 billion is the floor for the price of building an integrated resort in Japan. Assuming costs can be contained at that level, Japanese gaming properties will be the most expensive ever built, smashing the prior record for a standalone casino venue of $5.88 billion, the price for the Marina Bay Sands<\/strong>.<\/p>\n

Mostly Clear in Osaka<\/h2>\n

While MGM faces competition in Osaka, mostly from Genting, there are some benefits to the Las Vegas-based company’s dedication to the city.<\/p>\n

First, competitors such as Las Vegas Sands, Melco Resorts & Entertainment, and Wynn Resorts each scrapped Osaka plans last year<\/a> in favor of Yokohama. Second, there’s more local support for an integrated resort in Osaka than in Yokohama, where residents have been vocally opposed to casino gaming<\/strong>.<\/p>\n

Additionally, politicians in Japan’s third-largest city have displayed flexibility on the timeline for opening a gaming venue. Originally, the plan was to have an integrated resort at least partially ready for the World Expo in 2025, a timeline even MGM acknowledged was tight. But Mayor Matsui said late last year 2026 would be satisfactory<\/a> for getting a gaming property up and running<\/p>\n","protected":false},"excerpt":{"rendered":"

MGM Resorts International and its local partner, Orix, have been declared the front-runner to bring an integrated resort to Osaka, the local government said today. The Osaka competition revolves around three operators \u2013 MGM, Galaxy Entertainment Group, and Genting Singapore \u2013 all of which have footprints in the Asia-Pacific region. But analysts and industry observers […]<\/p>\n","protected":false},"author":46,"featured_media":126937,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\nMGM Resorts Is Leading the way in Osaka, According to Officials There<\/title>\n<meta name=\"description\" content=\"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM Resorts Is Leading the way in Osaka, According to Officials There\" \/>\n<meta property=\"og:description\" content=\"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-14T17:06:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-14T18:26:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/\",\"name\":\"MGM Resorts Is Leading the way in Osaka, According to Officials There\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg\",\"datePublished\":\"2020-02-14T17:06:48+00:00\",\"dateModified\":\"2020-02-14T18:26:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg\",\"width\":1600,\"height\":900,\"caption\":\"As expected, MGM Resorts is leading the race for a gaming license in Osaka. (Image: CNN)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"MGM Resorts Nabs Pole Position in Race for Osaka Integrated Resort\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MGM Resorts Is Leading the way in Osaka, According to Officials There","description":"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"MGM Resorts Is Leading the way in Osaka, According to Officials There","og_description":"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.","og_url":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-02-14T17:06:48+00:00","article_modified_time":"2020-02-14T18:26:49+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/","url":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/","name":"MGM Resorts Is Leading the way in Osaka, According to Officials There","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg","datePublished":"2020-02-14T17:06:48+00:00","dateModified":"2020-02-14T18:26:49+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"As expected, MGM Resorts International is the leading contender in Osaka, something the government there confirmed today.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/02\/osaka.jpeg","width":1600,"height":900,"caption":"As expected, MGM Resorts is leading the race for a gaming license in Osaka. (Image: CNN)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/mgm-resorts-is-leading-the-way-in-osaka-according-to-officials-there\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"MGM Resorts Nabs Pole Position in Race for Osaka Integrated Resort"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/126928"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=126928"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/126928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/126937"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=126928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=126928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=126928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}