Focus on Japan License
Mohegan Gaming & Entertainment (MGE) announced a new partnership this week to bid for an integrated resort (IR) license in Nagasaki, Japan. The company will be working with Oshidori International Development Godogaisha in the effort.
The goal of the partnership is to develop a world-class integrated resort in Japan. MGE and Oshidori also want to help Nagasaki become a travel destination and a top choice for residential development.
Mohegan Gaming & Entertainment partnership
CEO and president of Oshidori, Alejandro Yemenidjian, stated that with the joint bid, the goal is to highlight “the rich culture and diversity of the Nagasaki area.”
Oshidori feels that working with MGE, a company known for developing casino resorts worldwide, is a landmark development opportunity. The company looks forward to the positive impact the project will have on the Kyushu region.
cross-marketing opportunities between Project Inspire in Korea and the development in Kyushu
CEO of MGE, Mario Kontomerkos, also commented on the new partnership, stating that the company is honored to be working with Oshidori. MGE hopes to leverage the Oshidori team’s experience for the IR license bid to get started in one of the fastest-growing markets in the world. Mr. Kontomerkos pointed out that Japan is ripe with development opportunities to assist the Kyushu economy. The growth strategy of MGE took into account the cross-marketing opportunities between Project Inspire in Korea and the development in Kyushu.
The bid selection process of the Nagasaki Prefecture will take place during the summer and fall. Developers chosen for the project can build a casino in Sasebo City.
Working with casino companies
The national government of Japan announced back in December that it would be working directly with casino companies on its development of the country’s casino gaming industry. Officials will use a special liaison to communicate with companies that wish to build IRs in Japan and help them through the proposal process.
Currently, Japan has three land-based casino licenses up for grabs. Once Japan’s government approved IRs in the country, casinos were expected to be up and running by 2025. It now appears that the process will be delayed because of disruptions involving the government as well as the COVID-19 pandemic.
Greek IR licensing
Mohegan Gaming & Entertainment has been busy working on expanding its business via IR development over the past few months. Last October, the company announced that the Hellenic Gaming Commission approved its licensing bid in Greece. The first integrated resort in the country cost the developer €150m ($176m).
MGE submitted its bid with partner GEK Terna, a group based in Athens. After earning additional approvals, the INSPIRE Athens ICR can move forward. The project, which includes a casino, hotel, convention center, entertainment facilities, and retail stores, will be located at the former Hellinikon International Airport.