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NEWS 20 September 2019

Race for Osaka casino license down to three candidates

By Tim Poole

The race for an integrated resort license in Osaka, Japan, is down to three candidates: MGM Resorts International, Genting Singapore and Galaxy Entertainment Group.

Local media reports suggest the operators are the only three companies to have submitted Request for Concept proposals in the city.

Melco Resorts & Entertainment this week pulled out of its bid to develop a new casino in Osaka, which could be located on the artificial island of Yumeshima.

The firm followed Las Vegas Sands in doing the same, while Caesars Entertainment recently halted its overall pursuit of a Japanese license at any location.

Consolidated net revenue at MGM rose 13% year-on-year in the second quarter of 2019 to $3.2bn, taking its H1 total to $6.4bn.

Meanwhile, Galaxy Entertainment Group reported a 7% year-on-year fall in H1 net revenue, to HK$26.2bn (US$3.34bn).

By comparison, Genting Singapore generated revenue of $1.2bn, a 3% rise, for H1.

RELATED TAGS: Land-Based | Casino | Legal & Regulatory
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