MGM, Galaxy Entertainment and Genting Malaysia Remaining Osaka IR Contenders

The race for Osaka integrated resort is heating up as the number of candidates for this prestigious location and its license has reportedly narrowed down to only three. As Inside Asian Gaming claims, MGM Resorts, Genting Singapore and Galaxy Entertainment Group are the sole candidates for development of integrated casino resort in this city.

This was originally reported by the local media outlets such as The Nikkei, Mainichi Broadcasting System and Kentsu Shimbunsha.

Osaka Aims For Expo 2025

The three operators are the only ones remaining to submit the needed Request for Concept (RFC)…

…and even though this request is not a requirement per se, submitting it might give the operator an edge over all others. Recently, Las Vegas Sands and Melco Resorts and Entertainment have both announced their exit from the Osaka IR race and that they will focus instead on Yokohama and Tokyo.

The plans to open an integrated casino resort in Osaka is still on for 2024 completion – just before 2025’s World Expo. The RFC was launched in April and in it, operators are asked to submit their operational policies and ideas on how to battle problem gambling.

The public offering will take place based on Japan government’s IR Implementation Act.

Caesars’ Merger Got in the Way

There were five operators who ed their interest in Osaka resort in June this year…

…these were, beside Caesars Entertainment and Galaxy Entertainment.

However, Caesars $17.8 billion merger with Eldorado Resorts has definitively steered them away from the Osaka project and they have pulled out.

Osaka Will Not Wait

Las Vegas Sands and Melco have focused their energy on Yokohama…

…after the city has announced their IR intentions for integrated resorts bid in late August. Osaka’s Governor, Hirofumi Yoshimura, has stated on September 4th that the city will begin the process for public offering before the Basic Policy on integrated resorts is confirmed by the country.

A year after the Implementation Policy has been adopted, the prefecture of Osaka will recruit operators. The final operator choice will be announced in the spring of 2020.

According to Japanese IR bill…

…three locations in this country will get IR approvals. At this point, Osaka, Yokohama, Wakayama and Nagasaki are leading the way. Osaka is believed to already belong to MGM , but this is still within the domain of speculation.

Public Debate Begins

Japan has recently launched public consultations on integrated casino resort regulations…

…and this public debate should provide grounds for agreement on questions such as content in these integrated resorts, taxes, age restrictions and many other facets of this industry.

Source:

“MGM, Genting Singapore and Galaxy still in the race as local media reports Osaka IR candidates narrowed to three”, Tomo Yamamoto, asgam.com, September 20, 2019.