According to a new estimate carried out by Fitch Ratings, one of the top contenders for Japan’s Integrated Resort, in Osaka is none other than MGM Resorts International. Bidding for Integrated Resort will start very soon, and the two major candidates for the property are Orix Ltd and MGM.
The US-based company’s position improved significantly when the two other contenders, Melco Resorts and Las Vegas Sands, made a decision to focus on other casino located across Japan.
In the United States, one of the top casino operators that have been operating for years. As a suitable candidate for the project, the organization has placed most of its focus on the Integrated Resort project for some time now. Despite all hindrances they’ve faced so far, the organization did not make an extra effort to be a top-rated candidate.
According to Alex Bumazhny:
“The exit of Las Vegas Sands and Melco [Resorts] from Osaka certainly increases the probability that the MGM/Orix consortium, which was already a strong contender, wins the RFP [request-for-proposal] there. However, a handful of other operators that have not pulled out [of Osaka] yet, such as Genting [Group] and Wynn [Resorts Ltd], also have a decent chance.”
In addition, he said:
“MGM is one of the premium casino operators in the USA”
“Our sense is that whatever ends up being built [in Osaka] will be world-class and will be the maximum investment the winning operator could make before jeopardizing their return on investment thresholds. None of the major public operators that are left in the race are known for underinvesting when looking at their recent portfolios, and all have solid financial profiles as well as development and operating experience.”
The Other Contenders
There are several applicants for the Osaka Integrated Resort as MGM is not the only contender. Both Genting Singapore and Galaxy Entertainment are also trying their best to improve their bidding positions for the bidding process. Wynn Resort, the other contender, believes that they have the capacity of establishing the largest casino property in the world.
Thanks to its favorable stance on tourism, and the support the nation offers to businesses in the industry, for a while now, the city of Osaka is a likely contenders for an official casino license.
On the other hand, Yokohama, the second-largest city in Japan, has been trying it’s best to improve its reputation as regards gambling. These efforts are paying off as both Las Vegas Sands and Melco Resorts have expressed interest in Yokohama.
According to Melco, they stated that Yokohama has sufficient communication links, convenient location, pioneering spirit, and vibrancy, which makes it a perfect contender for extensive development designed especially for first-rate international tourists.