MGM Resort Osaka

MGM Resorts International (NYSE: MGM) today announced that MGM Japan, together with its joint-venture partner ORIX, has been selected by Osaka as the region's integrated resort partner. Osaka's selection of the MGM-ORIX consortium marks an important step in MGM's long-term bid to develop one of Japan's first integrated resorts.

Details of the proposed approximately $10 billion development were also unveiled, showcasing MGM's vision to bring a world-class resort experience to Osaka that is designed to transform the region into one of the world's top entertainment and hospitality destinations and that will serve as a hub for tourism across Japan.

Osaka's selection of MGM-ORIX is one of several steps in the licensing process following the 2018 passage of Japan's Integrated Resort Implementation Act. The next step is for MGM, together with Osaka prefecture/city and ORIX, to submit an Area Development Plan to Japan's central government during the October 2021 to April 2022 application period. Integrated resort licenses are expected to be issued by the central government in 2022. If selected to receive a license, MGM anticipates an opening date in the second half of the 2020s for the Osaka project.

Proposed to be located along the water on Osaka's Yumeshima island, the project is designed to help establish Japan as a top global tourist destination, with Osaka serving as an internationally celebrated city for international business, travel and world-class amenities and entertainment. The company has had a full-time development team in Japan for more than seven years, engaging with Japan's business communities, immersing in Japanese culture and laying the foundation for a project that embodies Japan's unique history and heritage.

MGM Resorts is focused on bringing world-class entertainment and an unparalleled resort experience to Japan in a way that only MGM can deliver, through exciting cultural events, convention expertise and premium dining and retail experiences with broad appeal both nationally and internationally.

• Hotel & Amenities: MGM Osaka, MGM Villas, and MUSUBI Hotel (2,500 total guest rooms). Variety of dining and food & beverage offerings, retail space, spa, fitness center, banquet halls.
• Meetings and Conventions: Approximately 400,000 square feet of conference facilities, with capacity to accommodate more than 6,000 visitors. In addition, approximately 330,000 square feet of exhibition space, including an Innovation Laboratory.
• Entertainment: Yumeshima Theater (Approximately 3,500 seats).