MGM and Las Vegas Sands Applies for Osaka Casino License
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Osaka Prefecture has launched the request-for-concept application process to identify the developers who are interested in building an integrated resort with a casino on the artificial Yumeshima Island in Osaka Bay. MGM Resorts International and Las Vegas Sands are the frontrunners in the race for the license.
Aside from Las Vegas Sands and MGM Resorts International, Lawrence Ho’s Melco Resorts & Entertainment and Wynn Resorts are also among the companies that are believed to be vying for an Osaka license.
The Japanese government is set to grant three gaming licenses for casinos within larger complexes. While the gambling facilities are expected to generate a massive portion of the total revenues of the future integrated resorts, lawmakers have stated that they will only have to represent a tiny portion of the entire property. Casinos will be required to represent no more than 3% of the total floor area of the complexes and the properties will be required to feature a number of non-gambling attractions.
Source: Latest News on European Gaming Media Network
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