The group’s partnership with private investor Orix Corporation, called Osaka IR Corporation, signed an agreement with Osaka Prefecture and Osaka City to implement the development plan for Yumeshima, an artificial island in Osaka Bay.
MGM and Orix, together with Osaka IR Corporation, will contribute to the sustainable growth and development of tourism and the economy of Osaka and the Kansai region, as well as Japan through this first-of-its-kind project in Japan.
First mooted in 2021, the US$10 billion MGM Osaka development will encompass three hotels MGM Osaka, MGM Villas, and Musubi Hotel, comprising 2,500 guestrooms. Also onsite will be a variety of dining and food and beverage offerings, retail space, spa, fitness centre and banquet halls.
Meetings and retail
The integrated resort will boast approximately 400,000 sq ft of conference facilities, with capacity to accommodate more than 6,000 visitors. In addition, it will house approximately 330,000 sq ft of exhibition space, including an Innovation Laboratory.
For entertainment, the development will offer the Yumeshima Theatre, containing approximately 3,500 seats.
Executing the vision
On the development milestone, Bill Hornbuckle, president and CEO, MGM Resorts, commented: “This is a significant moment for our company as we officially close the certification process and begin to focus on executing our vision, in partnership with Orix, to build a world-class integrated resort in Osaka.
“We remain passionately committed to this project and look forward to bringing Japan and Osaka best-in-class gaming, entertainment, dining and retail experiences. Our vision is to bring MGM’s ‘wow’ DNA from Las Vegas to Osaka and build a resort that will be a source of great pride in the community.”
MGM Resorts’ pipeline includes a 200-key site in Chongqing, central China. Diaoyutai Boutique Hotel Chongqing will be a part of the Chongqing Center, scheduled to complete in Q4 2025.
In the group’s home US market, MGM Bridgeport is slated to bring 300 guestrooms to Connecticut, along with a casino, a 700-seat theatre, and retail and dining options.