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.