Asia

Orix teams up with MGM for first Japan IR consortium

Published

6 years ago

March 26, 2019

Niji Narayan

Orix Teams up with MGM for first Japan IR consortium

Reading Time: < 1 minute

MGM Resorts in partnership with Orix enter into a consortium in pursuit of a Japan IR license. A memorandum of understanding was signed by the two companies in late 2018.

Orix said that it would enter a consortia deal with Orix as equal partners with an eye on the development and operation of an IR in Osaka.

Orix CEO Makoto Inoue states, “We are considering teaming up with MGM” for business operations in Osaka. This is the first major Japanese domestic company to throw its hat in the ring for an IR.

The consortium will undertake the operation of the IR, while casino operations will be handled by MGM. Orix also approached many Kansai companies to participate in this consortium.

MGM Chairman and CEO Jim Murren announced an “Osaka First” policy at the beginning of this year with regards to an IR bid for the city in 2024. He also states, “We want to build IR in Yumeshima, Osaka. We want to work with local business to build an IR unique to Japan so that the world will know what this country has to offer.”

Related Topics:

Up Next

Hokkaido governor elections could prove vital for IR hopes

Don't Miss

Criticism mount against casinos in Goa

Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.