MGM Resorts International is reported to have forfeited its right to withdraw from its near US$10 billion Osaka integrated resort development within the next two years in order to clarify its commitment to the project.

According to the Nikkei, MGM has agreed to forego the withdrawal option, which had allowed the company to pull out at any time until September 2026 pending certain conditions such as tourism to Japan falling short of pre-pandemic levels, investment requirements spiralling or unexpected issues emerging with the Yumeshima Island site.

It is also reported that builders have expressed reservations about signing onto the project due to uncertainty around its future.

MGM declined to comment when contacted by Inside Asian Gaming on Sunday and it is unclear whether the reported forfeiture of withdrawal rights is related to a recent request by organizers of next year’s World Expo to pause construction of the Osaka IR for six months due to concerns around noise and visuals.

(source)