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MGM Osaka price tag now at US$10bln, as construction costs go up
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GGRAsia
Global casino operator MGM Resorts International and Japan’s Orix Corp are the two main partners in the consortium developing the MGM Osaka project (pictured in a rendering).
The plan published on Friday by the prefectural authorities confirmed that MGM Resorts’ equity commitment for MGM Osaka has increased to JPY428 billion, up from a prior JPY306-billion pledge.
MGM Osaka is expected to feature 1,829 hotel rooms and 10 villas, according to the latest plan.
A ground-breaking ceremony for MGM Osaka – Japan’s first casino resort – was held in April this year.
In late April, Jonathan Halkyard, MGM Resorts’ chief financial officer, had flagged the higher equity commitment for MGM Osaka.
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