Will Japanese take lead in IR projects?

In early September, MGM Resorts International CEO James Murren emphasized in a public presentation that his company was looking for a “Japanese-led” IR consortium in a major urban market. He wasn’t specific about what he meant in practical terms, but clearly MGM envisages its Japanese partners playing a major, perhaps a predominant role in a future IR. MGM isn’t alone. When AGB interviewed Steve Tight, president of international development for Caesars Entertainment, in late July, he described his company’s competitive advantage as being that, “it is sort of in our DNA to partner in all of our various ventures, and we know in Japan the government is going to want a consortium represented by both Japanese investors and international operators to be successful.” International gaming industry analysts have speculated that the Japanese government would set legal caps on the percentage of IR ownership that could be held by an international operator....

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