Osaka Prefecture and the city government selected MGM Resorts International and Orix to operate a planned casino resort, according to a media report. The companies plan to invest about ¥1.08tn; a development plan is due to go to Japan’s central government in April 2022, subject to local approval.
The selection identifies the proposed operators and investment scale, while development and central-government approval remain outstanding.
Quarter ended 30 September 2026
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All seven candidates in Yokohama’s mayoral election have ruled out seeking an integrated resort with a casino, according to reports. The election is scheduled for 18 October, ahead of Japan’s next application window for up to two casino-resort licences, expected to run from May to November 2027. Yokohama did not join the first application round.
Hokkaido Prefecture said three foreign casino operators and 12 domestic companies responded to its inquiry about a possible integrated resort. Japan is expected to hold a second casino bidding round in 2027, while Hokkaido, Wakayama and Sasebo have expressed interest in potential developments.
JPMorgan analyst Daniel Politzer estimated that MGM Osaka could contribute up to $31 per share to MGM Resorts International’s value when the resort is fully operational. The analyst put its present discounted value at $19 per share; the project is scheduled to open in 2030 and is being developed with Orix Corporation.
MGM Resorts said construction of its integrated resort on Yumeshima Island in Osaka is progressing, with more than 40% of foundation piles installed or completed. The company expects the approximately $10bn project, developed with Orix Corporation, to open in 2030; MGM said it invested $140m in the first quarter and expects Japan funding of $200m-$225m this year.
Japan approved the Osaka integrated resort plan, reportedly led by MGM Resorts and Orix, with an expected opening in 2029. A local government document cited in the report says MUFG Bank and Sumitomo Mitsui Banking Corp will provide ¥550bn in project financing; the government said it needed more time to study Nagasaki’s proposal.