$MGM MGM Resorts International remains on track with its ambitious Osaka casino resort project, aiming for a fall 2030 opening. Construction is progressing steadily, with steel structures rising and an additional $125 million to $175 million planned for investment in the latter half of 2026. The resort, located on the man-made Yumeshima island, will be a massive complex featuring a casino floor four times larger than the Bellagio in Las Vegas, approximately 2,500 hotel rooms across multiple properties, extensive conference and exhibition spaces, and a large theater. MGM and its partner Orix each hold a 40% stake, with MGM as the sole operator. The project continues to meet Japan’s regulatory standards, and the government is encouraging MGM to diversify revenue by investing casino earnings into non-gaming attractions.
Meanwhile, $MGM faced operational disruptions last weekend when remnants of Tropical Storm Rachel caused record rainfall and flash flooding in Las Vegas. The severe weather led to road closures and stranded motorists, temporarily complicating access to Strip resorts ahead of the city’s upcoming Formula One race. Although gaming operations were not shut down, visitor traffic likely dipped due to these access issues. By Monday, conditions improved, and preparations for the F1 event resumed on schedule.
On the market front, $MGM shares have recently struggled, reflecting broader investor caution. The stock has declined over 26% in the past month amid concerns about slower revenue growth and diminishing returns on capital compared to peers in the consumer discretionary sector. Despite these headwinds, MGM continues to push forward with its long-term growth plans, particularly in international expansion.
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