Wynn Resorts and Las Vegas Sands Corp are expected to be among the gaming operators competing for integrated resorts license in Yokohama.
Yokohama officials have received seven proposals from operators requesting for a concept. The request for concept (RFC) process will close on 23rd Dec, in which all interested companies will be required to have submitted their proposals. The RFC will guide city officials to implement protocols that will be released next year.
Although Yokohama officials have not named the operators requesting for the concept, several companies who had shown interest in Yokohama are expected to have proposed. They include Wynn Resorts, Las Vegas Sands, Melco Resorts & Entertainment, Genting Singapore, and Galaxy Entertainment Group. Although Yokohama locals are opposing the establishment of integrated resorts in their midst, leaders were encouraging the move hoping that an IR will ease their budget deficits.
Yokohama Mayor said that she is looking forward to partnering with one operator vying for an integrated resorts license. The city has chosen Yamashita Pier as the site for the IR, which is located near Tokyo Bay. While smaller cities in Japan are still competing for integrated resort licenses, large metropolitan, which includes Tokyo, Yokohama, and Osaka, are seen as prime candidates.Casino.org reported that Operators are focusing on these big cities. Over a month, some operators have opted to focus on a single city. However, Galaxy Entertainment Group and Genting Singapore have remained interested in Osaka and Yokohama. LVS has set it to focus on Tokyo and Yokohama while Melco resorts choose Yokohama. Wynn resort in thought has submitted Yokohama RFC proposal, although the company earlier interest was to build an IR in the Kanto region in Tokyo.
While Yokohama mayor had cited budget deficits as a reason to bring a casino resort in the city, the reason might go beyond budget constraints. Currently, the city has a population of 3.75 million and it’s expected to rise slightly high this year then decrease, which might reduce the region tax collection. Besides, the local infrastructure needs renovation, and this kind of project isn’t cheap.
Policymakers hope that gaming facilities will boost tourism in the region and improve revenue collection.