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MGM Resorts Ready for Japanese Expansion
- February 28, 2017 By Riley Wilson -
One of the biggest names in gambling business, MGM Resorts, has upped the ante by entering one the largest casino markets in the world.
Succeeding in Japan is quite a challenge, but MGM Resorts has all it takes to do so. In the next 30 days, Nevada-based company will complete the expansion with the opening of its Tokyo office.
New Japan Office a Work in Progress
New staff is being hired as we speak, with special focus on studying the market and establishing closer ties with local businesses.
MGM Resorts Chairman and CEO, James Murren, confirmed that the work is in progress. He also stated the company expects high demand and will invest its available resources in fulfilling the needs of the competitive Japanese market.
Back in November, Murren said MGM was prepared to invest up to $9.5 billion in a resort in Tokyo, Yokohama or Osaka. The opening of an integrated resort in one of these cities is expected by 2022 or 2023.
Las Vegas Sands to Enter Japanese Market as Well
But, MGM is not the only company interested in opening its objects in the Land of the Rising Sun. Las Vegas Sands recently announced they were ready to invest up to $10 billion, while Macau-based Melco Crown Entertainment is prepared to spend as much money as it takes to beat the competition.
However, it is still unknown how many licences will be awarded and which criteria will be used in the process. There is a possibility Japan will adopt a new IR bill by the end of this year, which could make this situation much clearer.
With the current situation on the market, it is expected Japan would green light the opening of two or possibly even three casinos.
MGM Resorts is a well-known name in gambling industry. Established back in 1986, it has become a global leader in entertainment and hospitality, and at present has more than 60,000 employees.