MGM Secures US$300 Million Credit Facility as Osaka IR Enters Full Construction Phase

MGM has announced it has entered into a yen-denominated credit facility equivalent to US$300 million, provided by Sumitomo Mitsui Banking Corporation, to support its development of the integrated resort (IR) on Yumeshima Island in Osaka. The facility carries an interest rate of about 2.5%, matures in October 2030, and includes an option to expand to around US$450 million.

According to MGM’s 3Q 2025 disclosure, the entire project – described as a US$10 billion IR – is now under construction with “all project elements” officially underway. CEO Bill Hornbuckle and CFO Jonathan Halkyard emphasised the favourable supply-demand dynamics they see in Osaka compared to other IR opportunities globally. 

The timing of this credit facility is notable: not only does it show lender confidence in the project’s execution, but it also fits into MGM’s broader financing strategy. In September 2025, the company had already pledged around US$300 million in equity this year toward its Japan IR push, ahead of further capital deployment in 2026-2028.

For stakeholders closely watching Asia’s IR landscape, this development signals a meaningful financial milestone. With construction now active and backing in place, the Osaka resort stands a better chance of meeting its announced opening target in late 2030. That said, execution risk remains given the scale of the project, Japanese regulatory environment, and macro-tourism variables.