Benzinga | Sep 28, 2021 02:36PM EDT

MGM Resorts To Be Osaka's Integrated Resort Partner

* MGM Resorts International (NYSE:MGM) has announced that MGM Japan, with its joint-venture partner ORIX, has been selected by Osaka as the region's integrated resort partner.

* The proposed resort development plan is expected to cost about $10 billion.

* MGM, with Osaka city and ORIX, will submit an Area Development Plan to Japan's central government during October 2021 to April 2022 application period.

* Integrated resort licenses are expected to be issued by the central government in 2022.

* If selected to receive a license, MGM anticipates an opening in the second half of the 2020s for the Osaka project.

* Price Action: MGM shares are trading lower by 0.24% at $44.98 on the last check Tuesday.