• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 2 October 2023
    • 中文
    • 日本語
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • Vietnam
  • Events
  • Consulting
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

MGM Resorts now last man standing in Osaka after rivals withdraw from selection process

Newsdesk by Newsdesk
Sat 15 Feb 2020 at 04:38
Castle in the Sky
252
SHARES
6k
VIEWS
Print Friendly, PDF & Email

MGM Resorts appears to be the last man standing to develop an integrated resort in Osaka after the Osaka Prefectural Government announced on Friday that the US casino operator and its local partner Orix were the only consortium to apply to submit a bid.

It had previously been reported that three companies remained in the race to become Osaka’s IR partner, with Galaxy Entertainment Group and Genting Singapore also said to be in the running following the recent withdrawal of Las Vegas Sands, Melco Resorts & Entertainment and Wynn Resorts. The latter three stated at the time their plan to focus on Yokohama instead.

However, with Osaka’s deadline for applying for the Request for Proposal stage passing this week, the prefecture revealed during a press conference on Friday that it had only received one application with MGM now in prime position to win one of three IR licenses expected to be granted by the national government in 2021.

On 5:30pm Japan time on Friday afternoon, Genting Singapore issued a statement in which it stated “after careful consideration of the opinions of many shareholders, we regret that we will not continue our participation in the Osaka IR Project going forward”. Genting did not provide a specific reason for their withdrawal.

It will instead join LVS, Melco and Wynn in focusing on Yokohama.

Genting Singapore’s decision comes less than two weeks after it had received shareholder approval to develop an integrated resort in Japan “on such terms and conditions as the Directors deem fit” and to allow the Directors authorization to “do all such things and execute all documents as they may consider necessary or expedient to give effect to the Proposed Bid and the Company’s investment in the Japan IR project.”

The company had earlier stated it wanted shareholder approval “to submit a Proposed Bid with respect to any one prefecture or city with an investment amount not exceeding US$10 billion.”

On Friday, Genting Singapore said, “This is a tough decision for us, and it’s unfortunate after the many exchanges we have had with everyone in Osaka.

“In the future, Genting Singapore will focus on participating in the Yokohama IR request for concept (RFC), which is currently underway. We will do our utmost to provide an attractive proposal including MICE and a variety of leisure facilities to make it a must-visit destination.”

RelatedPosts

Survival of the Fittest?

JP Morgan: Macau industry EBITDA hit 80% of pre-COVID levels in Q3

Mon 2 Oct 2023 at 12:45
Police arrest two men suspected of laundering proceeds from Hong Kong crypto fraud case through Macau casinos

Police arrest two men suspected of laundering proceeds from Hong Kong crypto fraud case through Macau casinos

Sat 30 Sep 2023 at 07:34
Two-day Japan IR Online Forum to start today

Tokyo police arrest two men linked to payment processing firm for assisting online gambling

Fri 29 Sep 2023 at 05:53
Is casino gaming a sunset industry?

Certification process complete as MGM Resorts joint venture signs Implementation Agreement for Osaka IR

Fri 29 Sep 2023 at 04:21
Load More
Tags: bidcasinoirJapanMGMOrixOsakaYumeshima
Share107Share17
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Remote control

Editorial – Remote control

by Ben Blaschke
Fri 29 Sep 2023 at 05:38

In the often-murky world of Asia’s online gaming scene, where regulated markets are few and far between, the Philippines is...

More fun in the Philippines

More fun in the Philippines

by Ben Blaschke
Fri 29 Sep 2023 at 05:25

Industry suppliers are relocating their offices to the Philippines and expanding their local workforce to take advantage of the fastest...

Together again

Together again

by Ben Blaschke
Fri 29 Sep 2023 at 04:00

IAG hosted its inaugural “Super September” series, comprising Manila After Dark, the IAG Academy Summit and IAG Academy IR Awards,...

Lessons learned

by Jeremy Walker
Fri 29 Sep 2023 at 03:19

Thailand is searching for an economic cure, and comprehensive entertainment facilities could be part of the solution – but only...

Softswiss
Evolution Asia
Aristocrat
Solaire
Evoplay
Hann
Hann
Okada Manila
BETER
Okada Manila

Related Posts

Enrique K Razon JR

Bloomberry share issuance to dilute Enrique Razon Jr’s majority holding by over 3%

by Newsdesk
Mon 2 Oct 2023 at 14:16

The controlling shareholding of Bloomberry Resorts Corp Chairman and CEO Enrique Razon Jr will fall by 3.2% as a result of issuing new shares to another major shareholder. As reported by Inside Asian Gaming, the two-part transaction will see Quasar...

Survival of the Fittest?

JP Morgan: Macau industry EBITDA hit 80% of pre-COVID levels in Q3

by Ben Blaschke
Mon 2 Oct 2023 at 12:45

Macau’s industry-wide EBITDA grew by 10% quarter-on-quarter to reach 80% of 2019 levels, aided by the strength of the mass gaming segment, according to investment bank JP Morgan. In a Monday note following release of Macau’s September GGR figures –...

Aussie bookmaker facing record AU$72 million payout on Penrith Panthers NRL grand final win

Aussie bookmaker facing record AU$72 million payout on Penrith Panthers NRL grand final win

by Newsdesk
Mon 2 Oct 2023 at 05:23

Online bookmaker Betr is facing the largest promotional payout in Australian history after competition favorites the Penrith Panthers won the NRL grand final on Sunday night. The massive AU$72 million (US$46 million) payout comes after a launch offer by Betr...

Mabuhay!

Bloomberry Resorts to raise US$99 million through share placing and subscription

by Newsdesk
Mon 2 Oct 2023 at 04:59

Bloomberry Resorts Corp, owner and operator of Manila’s Solaire Resort Entertainment City, has announced plans to raise up to US$98.7 million by way of a placing and subscription transaction involving one of its controlling shareholders, Quasar Holdings, Inc. According to...



IAG

© 2005-2023
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Consulting
  • Magazines
  • Advertise
  • Contact
  • About

© 2005-2023
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語