In a groundbreaking deal that has sent shockwaves through the financial world, MGM Resorts International has secured a historic financing package for its highly anticipated resort in Osaka, Japan. The $9.1 billion loan, believed to be the largest ever secured for a single project in Japan, represents a major milestone for the gambling giant as it looks to expand its presence in the lucrative Asian market.
The financing package was put together by a consortium of Japanese and international banks, including Mizuho Bank and Bank of America. The loan is structured as a combination of term loans and revolving credit facilities, with a maturity of 10 years.
The MGM Osaka project, which is set to be located on a prime waterfront site in Osaka’s Yumeshima district, has been in the works for several years. The resort is expected to include a luxury hotel, a wide array of dining options, a state-of-the-art casino, and various entertainment and shopping options. The project is also expected to create thousands of jobs and generate significant revenue for the local economy.
The securing of the financing package is seen as a major coup for MGM Resorts International, which has been facing increasing competition in the Asian market from other global gambling giants. The company’s CEO, Bill Hornbuckle, praised the deal as a testament to the strength of MGM’s brand and its reputation for delivering high-quality entertainment experiences.
The MGM Osaka project is also seen as a key part of Japan’s efforts to boost tourism and economic growth in the wake of the Covid-19 pandemic. The resort is expected to attract millions of visitors from across Asia and beyond, providing a much-needed boost to the country’s tourism industry.
The news of MGM’s historic financing deal has been met with excitement and anticipation in the financial world, with analysts predicting that the resort could be a game-changer for the company and the Japanese gambling market as a whole. With construction set to begin later this year, all eyes will be on Osaka as MGM Resorts International brings its world-class entertainment experience to the heart of Japan.
