MGM Resorts International has scouted the world's biggest fish market as a potential site for the casino resort it wants to build in Japan, according to two sources familiar with the company's plans.
Chief Executive Officer James Murren visited central Tokyo's Tsukiji market in March to survey the sprawling warren of fish stalls on about 231,000 sq. meters (57 acres) of land that the the city may sell after its vendors relocate, the people said.
The site, one of the largest parcels ever offered for redevelopment in the Japanese capital and located near the luxury shopping enclave of Ginza, would be an alternative to the Odaiba district that is seen as the top contender for a gaming resort. While land costs would be higher, Tsukiji promises greater visitor numbers due to its accessibility by transit and proximity to other tourist draws, Jay Defibaugh, an analyst with CLSA, said by phone.