MGM Resorts' Japan casino resort is still tracking for a 2030 opening

MGM Resorts International's (MGM) Osaka project is on schedule for a fall 2030 opening as work on the site continues as planned. In late September, MGM (MGM) CEO Bill Hornbuckle said the resort construction is going well, noting that steel is going up. Of note, MGM (MGM) plans to add another $125M to $175M to the project in the second half of this year.

Japan's Ministry of Land, Infrastructure, Transport, and Tourism published a report earlier this month indicating the project still meets the required standards, with detailed designs finished and construction underway. For its part, the government agency asked MGM Resorts (MGM) to make concrete plans for putting future casino earnings into non-gaming attractions.

The resort sits on Yumeshima, a man-made island in Osaka Bay, and will cover about 97 acres. Hornbuckle highlighted that the casino floor will be four times the size of the one at the Bellagio in Las Vegas. The plans include about 2.5K hotel rooms, 400K square feet of conference space, 330K square feet of exhibition space, and a theater with about 3.5K seats. The casino will have 470 table games and 6.4K slot machines.

The hotel rooms will be split across the MGM Osaka, MGM Villas, and MUSUBI Hotel locations. A rail link extending the Nara Line to the island is also planned. MGM and its Japanese partner Orix each own 40% of the venture, and MGM will be the sole operator and license holder.

The resort, which is expected to see about 20M visitors a year, is still Japan's only approved casino resort, though the government may open a new licensing round in 2027.