Orix teams up with MGM for first Japan IR consortium

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.”