MGM Will Not Spend More Than $10 Billion on Osaka Resort
MGM Will Not Spend More Than $10 Billion on Osaka Resort
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Bill Hornbuckle
MGM Resorts development of the Osaka scheme has reduced the gross floor space to ensure the budget for the entire resort does not exceed the $10 billion Bill Hornbuckle the chief executive of MGM said would be spent on the resort.
Last week at the annual Bank of America Gaming and Lodging Conference the boss of MGM said, “won’t let the budget change” on the cost mentioned originally on the first ever casino resort in Japan.
Hornbuckle said the plans for the development had now been reduced by 20% to 25% of the gross floor area (GFA), saying, “We have spent an extensive amount of time re-scoping the project, the original project compared to now is about 20% to 25% less GFA.”
The chief executive said that although the area had been reduced he did not want to reduce the gaming area so it was complicated.
Hornbuckle said he was due to fly to Japan at the end of the month to sign the implementation agreement and lease for the development so the resort can get underway which is now slated to open in the autumn of 2030.
