MGM’s bet on Asia’s next Macau may age well

Orix

26/04/2023 01:46

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Katrina Hamlin
       HONG KONG, April 26 (Reuters Breakingviews) - The US
casino operator will open Japan’s first casino. It isn’t an
obvious destination for gambling: Sands and Wynn stayed away,
preferring Singapore and the UAE. But the Osaka resort could be
as big a money spinner for the operator as its properties in the
Chinese hub.

    Full view will be published shortly.
    Follow @KatrinaHamlin on Twitter
    
    CONTEXT NEWS
    Japan on April 14 approved a plan to build the country's
first casino, in the western city of Osaka. The 1.08 trillion
yen ($8.1 billion) resort is set to open in 2029.
    U.S. casino operator MGM Resorts International and local
partner Orix will each own a 40% stake in the company set up to
manage the complex.
    The resort is targeting 520 billion yen of revenue annually,
mostly from the gaming business.

 (Editing by Una Galani and Pranav Kiran)
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