Just one day after Paradise-based Las Vegas Sands Corporation revealed publicly that the company is abandoning its plan to build and operate a luxurious casino resort in Osaka, the company’s biggest American rival and competition MGM Resorts International revealed that it stays committed to the city of Osaka. In fact, the company’s boss Jim Murren stated in his official press release that the MGM Resorts International remains committed to pursuing a fully integrated casino resort in Osaka.
This official revelation was immediately followed by the Las Vegas Sands Corporation’s official press release in which the company’s officials reveal that it will concentrate on the city of Yokohama instead of its initial plans which included managing a casino resort in Osaka. This news came shortly after it was revealed that Japan will be granting a trio of casino licenses for development projects in several cities including Yokohama and Osaka.
At the same time, the MGM Resorts International’s officials have already announced their Osaka First business strategy and they do not plan on wavering from that business plan. Mr. Murren also stated that he and his coworkers have had confidence in the company’s position in Japan. He also believes that MGM Resorts International can bring something to Osaka that only his company can successfully deliver.
Yokohama Joining the Race to Secure its Casino License
The city of Yokohoma has just recently announced that it will be finally lodging a public bid in order to secure one of the three gaming licenses which are currently being made after the country ratified last year’s proposed, Integrated Resort Implementation Bill. The city of Yokohama has more than 3.7 million residents while its close proximity to the country’s capital makes its one of the most attractive candidates to host a fully integrated entertainment and casino resort.
In fact, the city of Yokohama has an advantage over other runners including Chiba City, Osaka, and Sasebo. It was also revealed that the city’s officials were reluctant at the beginning to bid for one of the three gaming licenses owing to their concerns related to criminal activities and gambling addiction. However, the city’s Major Mr. Hayashi in an official press release said that such a facility will actually enable the city of Yokohama to attract both more foreign investment and more tourists.
One of the leading casino operators and the biggest MGM Resorts International rival, Las Vegas Sands Corporation reacted immediately after this revelation by saying that it has abandoned its plans to build in Osaka in favor of managing a casino resort in Yokohama. The company’s CEO used another statement to share more detail. In this statement, his proclaimed that investing in Yokohama or Tokyo gives his company the best business opportunity. He also added that his company is currently seeking business partners to help them with bringing a casino resort to the capital city of the Kanagawa Prefecture.
Several American Companies Interested in Bringing Casino Resorts to Japan
Alongside Las Vegas Sands Corporation, several other American casino giants such as Caesars Entertainment Corporation, and Wynn Resorts Limited are currently eyeing on the possibility of opening a casino resort in Japan. While MGM Resorts International stays focused on Osaka, these casino behemoths are more focused on Yokohama.
All in all, MGM Resorts International has grandiose plans for its Osaka casino resort. The company’s officials revealed that they will submit their official proposal in days to come in hopes of attracting some local allies.