MGM Resorts Chairman & CEO Discusses the Ability of Integrated Resorts In Japan to Accelerate International Travel
Comments touch on developments in Osaka and Tokyo
TOKYO – Chairman & CEO of MGM Resorts International (NYSE: MGM) believes international tourism and travel to Japan could surpass government projections if a comprehensive Integrated Resort strategy is implemented in conjunction with the 2020 Olympics.
In comments at the CLSA Japan Forum in Tokyo, Jim Murren said that the development of new Integrated Resorts could become iconic city attractions in Osaka and Tokyo that would support the government’s goal of attracting new international visitors for leisure and business. This increase in visitation, he said, could result in the realization of the government’s 2030 projection of 30 million visitors being met five years early.
“Furthermore, experience in other international destinations with Integrated Resorts shows that visitors to those cities stay longer to experience the diversity of other attractions,” Murren said.
The government of Japan is considering legislation that would allow Integrated Resorts to complement plans for hosting the 2020 summer Olympics.
“Integrated Resorts would provide revenue to help fund roads, bridges, schools and the many other infrastructure items needed to successfully support the games, as well as hotel rooms and entertainment that will showcase Tokyo as a truly spectacular city for tourists,” Murren said.
Murren also discussed MGM’s approach to successful collaborative developments.
“We would bring five characteristics to any development in Japan. First, we take design seriously and seek to reflect the culture, architecture and landscape in which the resort is being developed. Second, we are leaders in environmental sustainability and make it a top priority in new and existing resorts. Third, we are a proven and trusted business partner. Fourth, MGM is a global brand with global marketing reach, and fifth, we are recognized around the globe for our extensive entertainment, hospitality and gaming operating expertise,” Murren said.
Murren noted how the company works with the best architects and designers globally.
Sustainability, he said, is a core company value, citing CityCenter at the heart of Las Vegas Boulevard, which is the largest LEED-certified integrated resort in the world.
“We have a global outlook with a local focus,” Murren noted. “We view our role holistically as a part of the community. To be successful, we must interact with everyone involved and be a good partner.”
“We are truly excited about the opportunity to bring our best-in-class integrated resorts to Japan. By combining MGM’s global outlook with a uniquely Japanese perspective, we believe we can help Japan accelerate the powerful economic benefits of international travel,” Murren concluded.
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MGM Resorts International
MGM Resorts International (NYSE: MGM) is one of the world’s leading global hospitality companies, operating a peerless portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. For more information about MGM Resorts International, visit the Company’s website at www.mgmresorts.com
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