Caesars, Genting and MGM in Talks for Osaka Casino Resort

Caesars Entertainment Corp., Genting Singapore Plc and MGM Resorts International are holding talks with the Osaka officials about plans to build a $4.8 billion casino resort.

Officials met with both Caesars and Genting last year and are due to meet with MGM in the next few months.

The talks come as the county awaits the end to the ban on casino gambling, as Osaka Prefecture Governor Ichiro Matsui said, “It’s just a matter of time before casinos are legalized.”

It is thought that a gambling resort in Osaka would bring in annual gross gaming revenue of around $5 billion. A huge advantage to building in Osaka is that land there costs about one-tenth of the cost in Tokyo.

Matsui believes that the complex would result in major investment and an increase of tourism to the area. Earlier this month Matsui said, “Even before the casino bill is passed, Osaka is crafting details of the resort plan so that we could embark on the project at any time. “

Matsui has a vision of casino resorts which include entertainment facilities as well as a train extension to the Universal Studios Japan theme park on the Osaka waterfront.