• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 27 September 2023
    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
    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
    No Result
    View All Result
    IAG
    No Result
    View All Result

    MGM’s Japan integrated resort to compete with Asia’s largest IRs, generate US$1.5 billion in tax revenue annually: Ed Bowers

    Ben Blaschke by Ben Blaschke
    Thu 25 Aug 2022 at 07:22
    MGM’s Japan integrated resort to compete with Asia’s largest IRs, generate US$1.5 billion in tax revenue annually: Ed Bowers
    43
    SHARES
    1.1k
    VIEWS
    Print Friendly, PDF & Email

    MGM Resorts International’s proposed Japan integrated resort would generate more revenue than most other IRs in Asia and tax revenue of around US$1.5 billion annually, according to the President and CEO of its Japanese subsidiary, Ed Bowers.

    Providing insights into MGM’s plans for an IR in Osaka, should it be granted a concession by the central government later this year, during a keynote speech the G2E Asia Special Edition: Singapore conference on Wednesday, Bowers said he expects the property to provide a major financial boost for the Kansai region and the nation as a whole.

    “This will be the most expensive IR ever built in Asia,” he said. “The project will employ around 15,000 people.

    “Between casino tax and entry fee payments we expect the project to contribute around JPY106 billion annually to the city and the prefecture of Osaka, which depending on the prevailing exchange rate will equate to between US$800 million and US$900 million (currently US$773 million).

    “An equal amount will also be contributed to Japan’s national government.”

    Bowers said revenues at MGM’s Osaka IR would “exceed those of most other IRs in Asia based on the Kansai region’s population base of around 25 million, proximity to three major airports and connection via high-speed rail to other major metropolitan centers around Japan, specifically Tokyo.

    Although the company has yet to be given the green light for its IR proposal, Bowers expressed confidence in what MGM has put forward with a final decision expected as early as next month.

    Providing an update on the process, he said, “We are currently focused on the preparation of schematic design drawings and on the completion of geological surveys of the site. After we receive approval from the central govt we will move into detailed design work with a view to commencing site work by mid 2023.

    “If approved we are hopeful to complete construction and open the IR by the end of 2029.”

    RelatedPosts

    The Japan IR Industry: A Golden Opportunity Squandered

    Japan’s central government approves revised implementation plan for Osaka IR

    Mon 25 Sep 2023 at 05:54
    Mohegan to complete funding for Korean integrated resort INSPIRE by September

    Chen Si promoted to President of Korea’s Mohegan INSPIRE, Wade Howk named COO

    Tue 12 Sep 2023 at 06:58
    MGM Resorts unveils Osaka IR concept

    Osaka reveals US$1.3 billion initial IR development cost blowout as opening date pushed back to 2030

    Wed 6 Sep 2023 at 06:01
    Two new attractions open at Korean IR Jeju Shinhwa World

    Competitive post-COVID tourism environment blamed for significant increase in loss for Jeju IR operator Shin Hwa World

    Wed 30 Aug 2023 at 05:49
    Load More
    Tags: ed bowersintegrated resortJapanMGM Resorts InternationalOsaka
    Share17Share3
    Ben Blaschke

    Ben Blaschke

    A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

    Current Issue

    Editorial – Winning margins: how Macau is set to become more profitable than ever before

    Editorial – Winning margins: how Macau is set to become more profitable than ever before

    by Ben Blaschke
    Wed 30 Aug 2023 at 08:49

    If there were two key takeaways from the recent Q2 earnings season in Macau, they were that margins in 2023...

    PAGCOR’s Alejandro Tengco

    PAGCOR’s Alejandro Tengco

    by Andrew W Scott
    Tue 29 Aug 2023 at 13:24

    IAG sits down with PAGCOR Chairman and CEO Alejandro Tengco to discuss his 12 months in the job and ambitions...

    A September to remember

    A September to remember

    by Ben Blaschke
    Tue 29 Aug 2023 at 12:37

    IAG presents the first ever Super September, comprising the IAG Academy Summit and two exciting networking events at Manila’s Newport...

    2023  IAG Academy IR Awards: Official Nominations

    2023 IAG Academy IR Awards: Official Nominations

    by Newsdesk
    Mon 28 Aug 2023 at 18:50

    Winners will be announced at the 2023 IAG Academy IR Awards Gala Dinner, to be held in The Ballroom at...

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

    Related Posts

    10 Years Ago: Rearing for a comeback

    Resorts World Sentosa fined SG$95,000 in past year for customer due diligence breaches

    by Newsdesk
    Wed 27 Sep 2023 at 05:05

    Resorts World Sentosa was subject to two of the three breach notices issued by Singapore’s new gaming regulator, the Gambling Regulatory Authority (GRA), over the past year, with both relating to failure to perform customer due diligence measures. According to...

    Macau GGR climbs to MOP$15.57 billion in May

    New junket cap unlikely to be filled with only 15 of Macau’s licensed junkets currently operational, experts say

    by Pierce Chan
    Wed 27 Sep 2023 at 04:28

    Less than half of Macau’s licensed junkets are currently in operation, meaning the new annual cap of 50 junket licenses on offer in 2024 is unlikely to be filled, industry representatives have told Inside Asian Gaming. As reported earlier this...

    Philippines Senate calls for immediate sale of PAGCOR casinos to fund COVID-19 fight

    Philippines Department of Finance ready to assist PAGCOR’s casino privatization push

    by Newsdesk
    Tue 26 Sep 2023 at 19:32

    The Philippines Department of Finance says it is ready to help privatize the casino operations of gaming regulator PAGCOR, adding that the goal of preparing assets for sale by 2025 is “very feasible”. In comments made to local media outlet...

    Sustainable luxury

    Wynn Macau Ltd reveals plans to launch new resident show at Wynn Palace

    by Newsdesk
    Tue 26 Sep 2023 at 19:28

    Wynn Macau Ltd has announce plans to launch a new resident show at Wynn Palace’s Wynn Theater after inking a strategic partnership with American production company Broadway Asia. The strategic partnership will see the two companies collaborate on the concept...



    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
    • Subscribe
    • Newsfeed
    • Mag Articles
    • Video
    • Opinion
    • Tags
    • Regional
    • Events
    • Contributors
    • Consulting
    • Magazines
    • Advertise
    • Contact
    • About

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

    • English