ORIX Corporation, a Japanese financial institution, will become an integrated casino resort to be built in Osaka.Promises to invest at least $ 24 billionIt is reported that it was done.
According to Inside Asian Gaming reports, this fact is a priority operating partner for New York and Tokyo-listed Orix, along with MGM Resorts International, to obtain a 40-year-old integrated casino resort license in Honshu. It became clear about 7 weeks after being selected as a resort.
According to the sources, the two companies are currently working to obtain federal permission for Las Vegas-style development with the aim of opening a facility on 2 acres of land on the artificial island Yumeshima by the end of 2029. Is said to be doing.
Bakara-chan121 acres is about 10.5 at Tokyo Dome.
Promise with a partner
ORIX has pledged to receive approximately $ 25 billion from Las Vegas-based MGM Resorts International.
The two are now allegedly working with local stakeholders to finalize the regional development plan, using existing cash on hand and various "non-recourse loans" to raise a total of $ 2 billion. I made it clear that I was going.
Remaining debt
Orix CEO Jintaro Yano said that Orix and MGM Resorts International will cover 40% of the remaining investment costs, with the remaining costs being borne by an unnamed local business partner.
In addition, since the integrated casino resort in Osaka is a "landfill", the final plan will be submitted after conducting a "ground survey such as bowling".
When I read Mr. Yano's remarks reported ...
“ORIX Co., Ltd. has standards that must be met in future processes, but we will continue to implement the project.”
Same compensation
Bill Hornbuckle, president and CEO of MGM Resorts International, said he is considering starting lending to investors in August for a project planned in Osaka from 8. I reported.
In addition, Mr. Hornbuckle allegedly claimed that the contract with ORIX Corporation would allow both parties to cover the remaining funds on an equal footing if a local partner could not be found.
The horn buckle states:
"If we assume that this project is $ 100 billion, we think it will be a little lower, but if we have a debt-to-capital ratio of 55/45, it will be a $ 20 to $ 25 billion check for us, probably in 2024. , 2025, 2026 will be divided. "
Bakara-chanI wonder if I have to wait patiently
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