🔥 MGM Resorts' Chances for a Casino License in Japan Just Got a Major Boost | The Motley Fool

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The casino operator also partnered with Japanese financial services firm Orix , creating a joint venture that will own and operate the business. Even CEO Jim Murren of MGM understands the big hurdles confronting the casino, telling analysts this past summer: "It requires almost surgical precision, not just by the developer, but by the government, from a permitting perspective, from an infrastructure perspective. Personal Finance. Nov 10, at PM. But because Osaka will be the site of the World Expo in , the city is a good bet to get the green light first to ensure the casino has the best chance of being operational in time. Fool Podcasts. Industries to Invest In. The city is expected to be the first to issue a license in Japan. There are plans for an underground rail system as well as new marine terminals capable of handling large cruise ships. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. Who Is the Motley Fool? The Ascent. There will ultimately be three licenses issued in Japan when the process is complete, with Tokyo, Yokohama, and Osaka all expected to be hosts. Planning for Retirement. It has put all of its chips on the city by declaring an "Osaka First" policy earlier this year and participating in local events to help persuade the government to accept its bid. It's expected that the site of the resort will be Yumeshima, an artificial offshore island, but access to it currently is via a bridge that would need substantial upgrades. About Us. Stock Market Basics. That's much more expensive than it would be in Las Vegas or even Macao, but even that figure might be low. We Are Motley. It's certainly not impossible. As many as eight companies originally vied for the right to build an integrated resort -- a comprehensive entertainment complex, not just a casino -- but now only three remain: MGM, Galaxy Entertainment , and Genting Group. Have a story idea? Getting Started. Contact Rich here. Those would all need to be completed in time for any opening. Author Bio Rich has been a Fool since and writing for the site since Image source: Getty Images. Investing Best Accounts. New Ventures. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Stock Market. Think an article needs a correction? Stock Advisor launched in February of Join Stock Advisor. Galaxy and Genting certainly are advancing their own causes, and the latter recently commenced a 3. His coverage reflects his passion for motorcycles, booze, and guns though typically not all exercised at the same time , but his writing also covers the broader sectors of consumer goods, technology, and industrials. Retired: What Now? Challenges remain, whoever wins the license.

Rich has been a Fool since and writing for the site since After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. MGM Resorts seems committed.

Reach Rich here. Also, it's not certain that an integrated resort could even be built in time article source the World Expo because of all the permitting requirements and logistics necessary.

I may not be able to respond any casino in japan every suggestion, but I do read them all! Related Articles.

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