MGM last Las Vegas operator standing in Osaka bid

Japan is getting ready to issue three highly coveted gaming licenses. The country’s gaming market is estimated to be worth more than $25 billion a year once resorts open in 2025. If the estimates stand up, Japan would become the second-largest gaming market in the world behind Chinese gaming enclave Macau. MGM and at least eight other companies had been vying for the Japanese licenses. In 2019 Las Vegas Sands Corp. and Wynn Resorts Ltd. turned their attention to other areas. Caesars Entertainment Corp. dropped out of the race altogether. MGM teamed up with Japanese financial services group Orix for its bid for a gaming license. MGM/Orix group was the only one to participate in the RFP process. “We think MGM is in a very good position in Osaka at this point” – Union Gaming analyst John DeCree