{"id":271360,"date":"2023-05-02T03:39:45","date_gmt":"2023-05-02T08:39:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=271360"},"modified":"2023-05-02T13:02:01","modified_gmt":"2023-05-02T18:02:01","slug":"mgms-casino-in-osaka-japan-unlikely-to-open-until-2030","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/","title":{"rendered":"MGM\u2019s Casino in Osaka, Japan Unlikely to Open Until 2030"},"content":{"rendered":"

Japan\u2019s slow progress in approving integrated resort<\/a> (IR) projects in Osaka and Nagasaki was expected to cause delays. Now, MGM Resorts International has confirmed that to be true. The casino operator selected to put Osaka on the global gaming map indicated this week that the property most likely won\u2019t be open until 2030.<\/p>\n

\"The
The Ferris wheel at Tempozan Harbor Village in Osaka, Japan lit up at night. MGM Resorts, the prefecture’s casino partner, has confirmed its IR project likely won’t be ready until 2030. (Image: Shutterstock)<\/figcaption><\/figure>\n

When Japan\u2019s government first approved the IR concept a few years ago, there was initial optimism of being able to bring at least one property to life before 2024. Between COVID-19 and other setbacks, the process is taking much longer. A deadline of 2024 became 2027, which then became 2029.<\/p>\n

Last year, the government finally set a firm deadline for proposals and only two candidates remained \u2013 Osaka and Nagasaki. Osaka, after yet another delay, just recently found out that its plan with MGM has been approved. Nagasaki is still waiting.<\/p>\n

The Long and Winding Road<\/h2>\n

A year ago, Japan indicated that it would provide a response on both IR projects by the end of 2022. But that didn\u2019t happen. MGM said this past February<\/a> that the continued delays were repeatedly forcing the company to alter its time line.<\/p>\n

\n

It was less than a month ago that the country greenlit Osaka\u2019s plan. MGM CEO and President Bill Hornbuckle, in a conversation about the company\u2019s earnings, gave an update on the $10-billion project. The most likely scenario is that a launch will happen in the first or second quarter of 2030. As with most large construction projects, unexpected obstacles could bring new delays.<\/p>\n<\/div>\n

MGM is confident it will be able to break ground sometime this year, although there are still some hurdles to cross. Working alongside its Japanese business partner, Orix Corp., there are still leases and legal formalities to complete before the heavy machinery moves into place.<\/p>\n

If they can secure the necessary signatures in the current or next quarter, Hornbuckle believes the project can get started this year. If not, then it\u2019s likely to be the first part of next year.<\/strong><\/p>\n

The executive\u2019s skepticism isn\u2019t shared by the governor of Osaka, Hirofumi Yoshimura. Despite MGM\u2019s assertion in February that a 2030 launch was more realistic, Yoshimura continued to promote a 2029 opening in public comments last month.<\/p>\n

Still No Word on Nagasaki<\/h2>\n

The gaming industry is still waiting to see what Japan decides to do with the Nagasaki IR. The arrival of the Osaka decision was expected to be followed closely by an announcement about the sister project. But that still hasn\u2019t happened.<\/p>\n

That has raised concerns over the viability of the project in the eyes of the national government. The Nagasaki prefecture, in recent comments to Casino.org<\/em>, confirmed that it’s addressing additional questions that have been raised and is supplying more details, as requested.<\/p>\n

\n

There was also an issue with funding. Nagasaki selected Casinos Austria as its casino partner. But the latter had difficulty showing how it would finance its portion of the project. Later, it was confirmed that Credit Suisse would be involved. But that financial entity\u2019s recent money issues have caused renewed concerns.<\/p>\n<\/div>\n

This past March, Nagasaki governor Kengo Oishi denied<\/a> the bank\u2019s demise would interfere with progress.<\/p>\n

The Credit Suisse issue, despite Oishi\u2019s claims, may serve as an excuse for Japan to deny Nagasaki\u2019s plan. Daniel Cheng, Hard Rock International\u2019s Senior Vice President – Development, Asia Pacific has said the government was allegedly never fully supportive of an IR in Nagasaki. As such, it\u2019s in no hurry to sign off on the prefecture\u2019s project.<\/p>\n","protected":false},"excerpt":{"rendered":"

Japan\u2019s slow progress in approving integrated resort (IR) projects in Osaka and Nagasaki was expected to cause delays. Now, MGM Resorts International has confirmed that to be true. The casino operator selected to put Osaka on the global gaming map indicated this week that the property most likely won\u2019t be open until 2030. When Japan\u2019s […]<\/p>\n","protected":false},"author":64,"featured_media":271359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,33810],"tags":[81913,13363,48],"acf":[],"yoast_head":"\nMGM\u2019s Casino in Osaka, Japan Unlikely to Open Until 2030 - Casino.org<\/title>\n<meta name=\"description\" content=\"MGM\u2019s casino in Osaka, Japan, unlikely to open until 2030 as continued government delays and bureaucracy create hurdles.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MGM\u2019s Casino in Osaka, Japan Unlikely to Open Until 2030 - Casino.org\" \/>\n<meta property=\"og:description\" content=\"MGM\u2019s casino in Osaka, Japan, unlikely to open until 2030 as continued government delays and bureaucracy create hurdles.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-02T08:39:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-02T18:02:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/The-ferris-wheel-at-Tempozan-Harbor-Village-in-Osaka-Japan-lit-up-at-night.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"949\" \/>\n\t<meta property=\"og:image:height\" content=\"634\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Erik Gibbs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erik Gibbs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/\",\"url\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/\",\"name\":\"MGM\u2019s Casino in Osaka, Japan Unlikely to Open Until 2030 - Casino.org\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/The-ferris-wheel-at-Tempozan-Harbor-Village-in-Osaka-Japan-lit-up-at-night.jpg\",\"datePublished\":\"2023-05-02T08:39:45+00:00\",\"dateModified\":\"2023-05-02T18:02:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/21bf33e35290a1da9c572298dac6b7ca\"},\"description\":\"MGM\u2019s casino in Osaka, Japan, unlikely to open until 2030 as continued government delays and bureaucracy create hurdles.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/mgms-casino-in-osaka-japan-unlikely-to-open-until-2030\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/The-ferris-wheel-at-Tempozan-Harbor-Village-in-Osaka-Japan-lit-up-at-night.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/The-ferris-wheel-at-Tempozan-Harbor-Village-in-Osaka-Japan-lit-up-at-night.jpg\",\"width\":949,\"height\":634,\"caption\":\"The ferris wheel at Tempozan Harbor Village in Osaka, Japan lit up at night. 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