MGM-led consortium chosen as lead bidder for Osaka IR

A consortium led by MGM Resorts International has been named as the lead bidder for an integrated casino complex in Osaka, the local government said on Friday.

A consortium comprising MGM and Japan's Orix Corp has been selected as the sole qualified applicant for the development of the Osaka integrated resort (IR), its prefectural government said in a statement.

Japan is planning to approve the construction of integrated resorts to boost tourism after the Tokyo Olympics end in August. The government has authorized licenses for three resorts and is expected to receive official bids next year from regions vying to build the facilities, potentially including Japan's three largest cities, Tokyo, Yokohama and Osaka.

Osaka hopes to make a final decision on which bidder will win the project in June, the Nikkei newspaper said.

A bribery scandal that saw the arrest last December of a ruling-party lawmaker previously overseeing casino policy has increased public opposition to the government's plan to allow casinos in Japan. Last month, four major opposition parties introduced a bill to scrap laws on casino resorts to the National Diet as it convened to begin a 150-day regular session. The Japanese government was said to be considering delaying the process for selecting casino host cities.

Some analysts say the casino market could be worth around $20 billion annually or more, thanks to an affluent population and the proximity to Asia's wealthy gamblers.