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MGM Sets its Sites on Japan

April 17, 2023 2

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MGM Sets its Sites on Japan

In 2029, MGM is set to open an integrated resort casino in Osaka, Japan, after receiving official notification from Japan’s Ministry of Land, Infrastructure, Transport and Tourism. The initial investment for the project is $8.2bn, with the total outlay estimated to be $10bn between MGM and its partner Orix. The Osaka casino is expected to feature 2.5k hotel rooms, 400k square footage of conference space, another 300k sqft of expo space, and a 3.5k seat theater. The local population of 19m, which is three times that of Singapore, and the potential for significant local tourism, suggests that the Osaka casino could generate substantial revenue. CBRE predicted a TAM of $5.75bn for the Osaka market, and the project could have an EBITDA potential of over $2bn, making it one of the most profitable casinos in the world. The project may also impact the estimated $4bn pachinko business in Osaka.

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