In the capital city of the Japanese Osaka Prefecture, the race for the city’s fully integrated casino resort is down to only three runners including the Genting Malaysia Berhad company, MGM Resorts International, and Galaxy Entertainment Group Limited. According to one reported by Inside Asian Gaming, the Honshu’s officials revealed back at the beginning of summer 2019 that seven international companies had expressed their interests in running the city’s envisioned casino resort.
However, as reported recently, this club of interested foreign companies has been thinned following decisions by the Las Vegas Sands Corporation company and Melco Resorts and Entertainment Limited to focus on two other Japanese cities instead of Osaka, Tokyo, and Yokohama. The same news outlet also reported that there are three foreign companies still interested in running the Osaka’s integrated casino resort.
The Trio Already Involved in the Request for Concept of the Bidding Process
As reported also by Inside Asia Gaming, the three foreign operators with a firm interest had already taken part in the bidding process’ RFC or request for concept part of the deal. Before doing so, the three runners were required to present a number of specifications for their envisioned developmental projects including the scale and size of their hotel facilities as well as size of their envisioned exhibition and convention facilities.
The three runners will soon engage in business talks with the Osaka’s officials before more formal talks can take place. Furthermore, the trio also has to reveal its formal RFP or request for proposal applications for the main selection process. Before selecting any project, the city of Osaka has to hold several public consultations. Moreover, the city also has to submit its final decision to Tokyo’s federal selectors.
Once one proposal is selected, the winning company will most likely be required to invest around $10 billion on building a Las Vegas-inspired facility which will feature not only a massive casino floor with thousands of games, but also several hotel facilities alongside exhibition and convention facilities and a special attraction aimed at international tourists outside of the Asian region.
The City Hopes to Have New Casino Resort Running by 2024
It was also reported that the city of Osaka hopes to utilize a massive, one hundred and twenty-one-acre plot located on Yumeshima Island for its integrated casino resort scheme. The city also hopes to have this newly integrated gambling-friendly facility running somewhere in 2024 ahead of its popular international exhibition the World Expo 2025. As previously mentioned, the three foreign companies which are still in the game including Genting Malaysia Berhad, MGM Resorts International, and Galaxy Entertainment Group Limited.
The company which has withdrawn from the city of Osaka’s race, Melco Resorts just recently announced its plans Yokohama First which will see the company focusing its efforts on the city of Yokohama instead of Osaka as previously envisioned. Another company followed these footsteps in abandoning Osaka, Las Vegas Sands which also wants to build in Yokohama or Tokyo. All on all, a bet on Yokohama or Tokyo is probably the right move for the company which will deal with some tough competition including Melco Resorts.
Several other big companies are extremely interested in Japan such as Wynn Resorts which also plans on expanding here in the time to come. All in all, both Melco Resorts and Wynn Resorts have said that Japan is among their most important expansion priorities. Since both of them are already present in Macao, they have proven their success in operating fully integrated, Asian casino resorts and this is what Japan also wants.