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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  ORIX Corporation    8591   JP3200450009

ORIX CORPORATION

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MGM Resorts-led consortium named as lead bidder for Osaka casino project

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02/14/2020 | 08:58am EST
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A consortium led by U.S. entertainment giant MGM Resorts International has been named as the lead bidder for an integrated casino complex in Osaka, the local government said on Friday.

Japan is planning to approve the construction of several integrated resorts - Las Vegas-style complexes that include casinos, shopping arcades and conference centres - to boost tourism after the Tokyo Olympics end in August.

The government has authorised licences for three resorts and is expected to receive official bids next year from regions vying to build the facilities, potentially including Japan's three largest cities, Tokyo, Yokohama and Osaka.

A consortium comprising MGM and Japan's Orix Corp has been selected as the sole qualified applicant for the development of the Osaka resort, its prefectural government said in a statement.

Osaka hopes to make a final decision on which bidder will win the project in June, the Nikkei newspaper said.

Despite the government's push, the casino development law is unpopular with the public, given concerns that large-scale gambling centers could lead to a rise in addiction, along with crime and corruption.

A bribery scandal that saw the arrest last December of a ruling-party lawmaker previously overseeing casino policy has increased public opposition to the government's plan to allow casinos in Japan.

Some analysts say the casino market could be worth around $20 billion annually or more, thanks to an affluent population and the proximity to Asia's wealthy gamblers.

(Reporting by Daniel Leussink; Editing by Jan Harvey)

Stocks mentioned in the article
ChangeLast1st jan.
MGM RESORTS INTERNATIONAL -4.23% 26.71 Delayed Quote.-10.73%
NIKKEI 225 -0.79% 22426.19 Real-time Quote.-1.14%
ORIX CORPORATION -2.72% 1859 End-of-day quote.1.86%
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Financials (JPY)
Sales 2020 2 291 B
EBIT 2020 314 B
Net income 2020 307 B
Debt 2020 6 565 B
Yield 2020 4,11%
P/E ratio 2020 7,66x
P/E ratio 2021 7,26x
EV / Sales2020 3,89x
EV / Sales2021 3,78x
Capitalization 2 349 B
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Technical analysis trends ORIX CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 12
Average target price 2 235,45  JPY
Last Close Price 1 851,00  JPY
Spread / Highest target 40,5%
Spread / Average Target 20,8%
Spread / Lowest Target -19,0%
EPS Revisions
Managers
NameTitle
Makoto Inoue President, Group CEO & Director
Hitomaro Yano Executive Officer & General Manager-Finance
Eiko Tsujiyama Independent Outside Director
Yuichi Nishigori Director & Senior Managing Executive Officer
Nobuaki Usui Independent Outside Director
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