MGM Resorts International announced plans to hire approximately 12,000 staff members for its future Osaka integrated resort, underlining the huge size and expected economic impact of the development. The announcement was made during the recent licensing hearing in the United States, where CEO William Hornbuckle gave fresh insight into the flagship project now breaking ground in Japan’s Yumeshima district.
A Landmark Investment for Japan and MGM
The Osaka resort is valued at approximately $12 billion and represents MGM’s biggest project in Asia and a bold long-term bet on the world’s second-largest gambling market. Hornbuckle said construction has finally started after a nearly twenty-year process of planning carefully and making way through a complicated regulatory regime.
Hornbuckle said the development is going to be among the biggest casino complexes on the planet, if not the largest. He added that its scale would also require an appropriately scaled workforce. He pointed out that there is no other opportunity in any market anywhere in the world for a single operator casino license with a population of 120 million people.
Drawing Inspiration from Singapore’s Success
Similarly, MGM’s vision for Osaka takes its cue from Singapore’s integrated resort model, with Hornbuckle praising its balance of entertainment and operational excellence with responsible gaming frameworks. The Singapore model has been both a blueprint and a beacon for the evolving entrance into Japan’s gaming industry.
Tomorrow’s Tourism and Entertainment Hub
The opening is scheduled for the third quarter of 2030, with expansion at a strategic site on man-made Yumeshima island near where the 2025 World Expo will be held. Besides gaming, various developments will include luxury hotels, high-end retail, various dining facilities, a theater, and with the goal of creating an all-round destination for visitors.
It is expected that Osaka IR will focus on promoting tourism and regional development, attracting about 20 million visitors a year.
Economic Impact & Regulatory Milestones
The project has a construction estimate of JPY1.27 trillion, about US$8.1 billion, and has passed a long regulatory review to finally gain approval in 2023. Economists estimate that over a ten-year period, the resort can add approximately JPY1 trillion, about US$6.4 billion, to the regional economy on account of job creation, an increase in tourist expenditure, and growth in related service sectors.
Japan’s Gaming Industry Enters New Era of Transformation
The MGM Osaka development represents a transformative period in Japan’s developing integrated resort industry, setting the high standard for future entrants and critical infrastructure. This project promises the creation of a massive number of jobs along with the establishment of a major entertainment complex and is thus all set to give Osaka and greater Japan a whole new face economically and culturally.
This large-scale, well-planned MGM Osaka resort ushers in a new era for regional tourism and gaming, a mature market development process that is innovative, responsible, and strategically visioned.
Source: Asia Gaming Brief (AGB)
AloJapan.com