The latest development and M&A news from around the world.
Davidson grows Pivot. Pivot, the lifestyle operating vertical of Davidson
Hospitality Group, has been selected by Kushner Companies to operate the
67-room Wave Resort and the 24-room The Bungalow in Pier Village on the
oceanfront in Long Branch, New Jersey.
Casino-resort for Japan. Japan has approved a plan to build the country's first
casino in Osaka, paving the way for a 1.8 trillion yen ($13.5 billion) resort
set to open in 2029. MGM Resorts International and local partner Orix Corp.
will lead the integrated resort project, with each owning a 40% stake in the
company set up to manage the complex. Documents show the developers are targeting
520 billion yen ($3.9 billion) of revenue annually, mostly from the gaming
business, and forecast it will attract 6 million international tourists and 14
million domestic visitors. The complex located on Yumeshima, a reclaimed island
in Osaka Bay due to hold the World Expo in 2025, will include hotels, a
conference center, shopping mall, museum and ferry terminal, while high rollers
will have access to an adjacent helicopter pad.