MGM Resorts prepared to bet $9.5B on potential Japan casino

Japan’s plan to legalize casino gambling hasn’t made it to the legislative floor yet, but the country already has one suitor prepared to shell out the big bucks into a Japanese casino.

James Murren, CEO of Las Vegas-based casino operator MGM Resorts International, told Reuters they are willing to invest between JPY500 billion and JPY1 trillion (USD4.8 billion-USD9.5 billion) to open an integrated resort in Tokyo, Yokohama or Osaka by 2022 or 2023.

“We think there would be a tremendous amount of demand, and ultimately a public listing of these types of Japanese resorts would be very appealing,”Murren told the news outlet.

Murren explained that the investment could be done via a publicly traded real estate investment trust (REIT), where an MGM-controlled operating company responsible for expenses and investment would pay rent to a property company owned by private investors as well as domestic and foreign companies.