Morningstar analysts expect Osaka’s MGM integrated casino resort in Osaka to have revenues of more than $4 billion (Rmb368.12 billion) in the early 2030s. That’s more than Las Vegas Sands in Singapore and Venetian in Macau were earning before the pandemic.
Dan Wasiolek, senior equity analyst at Morningstar, noted that more than 12 million foreign tourists visited Osaka before COVID-19. The arrival of the casino should attract many of them, as well as new visitors from China. Wasiolek cites the proximity of the resort, which will open in 2029 or 2030, to Osaka’s airport and business center as an argument.
Also, research group Morningstar expects the casino to be visited by numerous locals. Wasiolek noted the density and high incomes of the population, as well as the Japanese appetite for gaming and non-gaming activities.
The population of the Osaka metropolitan area is 19 million. Its density is about 50% higher than Singapore’s, and significantly higher than the US. The average household income is about $50,000 (Rmb4.6 million) per year. All this, according to analysts, contributes to the high demand for casino-resort services.
The original plan for MGM Osaka’s annual revenue is $3.6 billion (331.3 billion rubles). The bulk of the funds should come from the gambling business. The facility is expected to attract 14 million local visitors and 6 million foreign tourists.
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