Enlarged Financial Plan of MGM Osaka Integrated Resort Surpasses $10 Billion Mark
The construction of MGM Osaka, Japan's first Integrated Resort (IR), officially began in April 2024, with the foundation laid in December of the previous year. Located on Yumeshima, an artificial island in Osaka Bay, the casino is set to be a key tourism hub in Asia.
Scheduled for completion in the summer of 2030, the casino will span a sizeable 23,293 square metres, slightly larger than earlier projections. The project is a joint venture between MGM Resorts International and Orix Corp., with each company holding approximately 44% of the project.
Sarah Rogers, MGM Resorts' senior vice president of corporate finance, has planned a significant investment in the project. In 2025, approximately US$300 million will be spent, followed by between US$500 million and US$600 million annually in the following years. This investment is expected to drive both domestic and international tourism, with a mix of gaming, hotels, cultural attractions, and convention facilities.
As of the last quarter, MGM Resorts has US$2.6 billion in financing for the Japan project. Additionally, MGM executives have a JPY530-billion credit facility ready to activate in 2028, bridging funding through to completion.
The development of MGM Osaka is particularly significant as it will be Japan's first IR project. With the World Expo scheduled to take place on Yumeshima in 2025, the casino is poised to become a major attraction, positioning Osaka as a key tourism destination in Asia.
While MGM Resorts International and Orix Corp. are the main partners in the Osaka Integrated Resort project, no other companies have been specifically reported as participants as of now.
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