MGM Resorts’ consortium leading Osaka’s integrated complex project bid

MGM Resorts International surfaced as a leading bidder in Japan to build an integrated casino complex. The U.S. entertainment giant, through a consortium, remained successful in getting its name as a lead bidder to build the said complex in Osaka, according to a Friday release by the local government. 

Summer Olympics are scheduled to be held from July 24 to August 9 this year in Tokyo, Japan. To boost tourism in the country after the mega event, Japanese government is in plans of building integrated resorts. The government is set to sanction approvals to build several Las Vegas-like mega complexes with casinos, conference centers and shopping arcades included in them under one roof or in single vicinity.

Going with the plans, the Japanese government has initially authorized issuance of three licenses for constructing such resorts. The government is more likely to be getting official bids in next year from the regions interested in hosting those facilities. Tokyo, Osaka and Yokohama are most likely to be the major bidders to claim those resorts as these are the three largest cities in the country.

MGM Resorts together with Orix Corp applied for the bid as a consortium to develop the resort in Osaka. The application of the consortium has been selected by the Osaka’s local government for being the sole qualified applicant, according to a statement by the territory’s local government.

But the Osaka’s local government will be making a final decision regarding the project winning bidder in June, according the newspaper report in Nikkei.

On the other hand, the public in Japan is not in favor of government’s those efforts around casino development law. Most of the people in Japan are in opinion that such large scale gambling activities would increase addiction to gambling, which could raise the crime and corruption rates in the country.