HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > NewsTrack
NEWSTRACK

MGM Resorts International and ORIX Corporation Joint Venture to Develop a Multi-billion Dollar Integrated Resort in Osaka Prefecture

Monday, October 4, 2021, 13:24 Hrs  [IST]
HBI Staff | Hyderabad

Osaka Prefecture and Osaka City have announced a consortium comprising US-based hotel and casino company, MGM Resorts International (“MGM”), and Japan-based ORIX Corporation (“ORIX”) as the preferred partner to develop and operate an Integrated Resort (“IR”) on Yumeshima Island in Japan. The IR will be sitting on a 390-hectare artificial island located alongside Osaka Port and site of the 2025 World Expo. According to the President of MGM Resorts International, William Hornbuckle, the initial investment for the MGM-ORIX IR development is estimated to be JPY1.08 trillion (USD9.7 billion) and the investment plan with ORIX is 40-40-20, where a consortium of other Japanese companies will fill up the last 20%. If not, both MGM and ORIX will take up 50% each. Osaka Prefecture is the last of the three cities to have confirmed its IR partner, with Wakayama Prefecture naming Clairvest Neem Ventures in June and Nagasaki Prefecture choosing Casinos Austria in August.

 

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
RELATED NEWS
»  Lords Hotels & Resorts opens Pushpam Lords Resort Karjat
»  FHRAI Signs MoU With J&K Govt. To Develop Hospitality & Related Infrastructure In The UT
»  The Leela Palaces, Hotels and Resorts redesigns its membership programme, Leela Discovery
»  Sterling Holidays launches Sterling LOCAL Restobar at their Goa and Wayanad Resorts
»  InterContinental Hotels & Resorts announces limited-time offers for its diamond anniversary
»  Courtyard by Marriott, Mumbai International Airport appoints Victor Chen as General Manager
»  Preferred Hotels & Resorts Announces Nine New Independent Hotel Openings in 2022
»  Atmosphere Hotels & Resorts successfully launches Colors of OBLU in India
»  Country Inn Hotels & Resorts introduces Christmas & New Year packages
»  The Fern Hotels & Resorts partners with Magenta for deploying EV charging facilities across all properties
»  Pride Group of Hotels joins as Festive Partner for the 19th Pune International Film Festival.
»  The Fern Hotels & Resorts opens their 19th hotel in Maharashtra with the opening of E-Square The Fern-An Ecotel Hotel, Pune
»  Roseate Hotels & Resorts organises ‘Lost recipes of India’ food festival
»  9 Fern Resorts bags prestigious Hospitality India Travel Awards 2021
»  Marriott International signs agreement with Prestige Group to open two new hotels in Delhi
»  IHG Hotels & Resorts introduces IHG Business Edge program for the MSME sector
»  Malini Menon takes over as General Manager - Sales & Marketing (South India) for The Fern Hotels & Resorts
»  International Institute of Hotel Management launches the IIHM Global Centre for Tourism and Hospitality Research
»  The Leela Palaces, Hotels and Resorts unveils Icons of India by The Leela - a private concert
»  Lords Hotels & Resorts launches its first hotel under Lords Eco Inn brand in Lucknow
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES