There is still plenty of time before Japan has to finalize choices for its three integrated resort (IR) licenses, but the current troubles caused by the coronavirus have still had an impact. MGM Resorts have announced a delay to their Osaka plans, while Yokohama is not wasting time in building up their IR effort.
The same day that news broke that Osaka would be extending their Request for Proposal (RFP) process an additional three months, MGM Resorts commented that their own plans to develop an Osaka IR would have to be delayed as well. But Ed Bowers, CEO of MGM Resorts Japan LLC, said delay won’t deter them. “MGM will continue to proceed with our efforts to create a proposal that will be appreciated by the entire Osaka community, taking into account the schedule announced by the government,” he said.
MGM looks to be the winner of Osaka’s IR process, but the prefecture’s decision to extend the process could mean a late entrant still has a chance. But in the likely outcome that MGM wins, they have partnered with Japanese financial services company Orix for its bid.
Brendan Bussmann of Global Market Advisors commented that he still expects, regardless of the delay, that an Osaka resort will be completed by 2026.“Osaka still has time on their side,” he said.