Currently, Yokohama ranks second only to Tokyo as Japan’s most populous city. The eponymous prefecture, of which it is the capital, is keen to attempt to open a hotel-casino on its territory. This is precisely why it will launch a call for tenders, starting on Friday, February 5, and ending on May 17, 2021.
For a time, the American operator Wynn Resorts made no secret of its intention to apply. However, due to the international health crisis, it has already announced that it will ultimately not participate in this process, preferring instead to focus its efforts on its activities in Macau and the United States.
Interested in Osaka first
Founded in 2002 by businessman Steve Wynn, Wynn Resorts is a NASDAQ-100 index company. It currently operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau, Encore Macau, and Wynn Palace on Macau’s Cotai Strip.
Since Japan passed its law allowing the creation of three hotel-casinos on its territory, this American operator has never hidden its interest in this market, which should eventually become the second largest internationally. Initially, it seemed more attracted to the Osaka prefecture.
Then he changed his mind. In October 2019, he announced his intention to run in Yokohama. With this in mind, an office was even set up in the city two months later.
This didn’t last long, as it was closed last August. Indeed, due to the international Covid-19 pandemic, Wynn Resorts began to gradually distance itself from Japan, while still stating that the market continued to interest it in the long term. However, today it’s official: the American group will ultimately not respond to Yokohama’s call for tenders and is also not expected to apply in any other Japanese prefecture.
>> Read also: » Casinos in Japan: Wynn Resorts abandons Osaka in favor of Tokyo «
A series of calls for tenders are continuing in Japan
Despite Wynn Resorts’ absence, the Yokohama Prefecture tender, which will run from February 5th to May 17th, is still expected to attract strong bidders. Big names like Galaxy Entertainment, Genting Singapore, and Melco Resorts & Entertainment continue to show interest. Some experts also believe that Las Vegas Sands could also apply, following the death of Sheldon Adelson.
In response to Yokohama’s plan, other Japanese prefectures are also interested in opening a casino hotel. These include Nagasaki, Osaka, and Wakayama. Hokkaido and Tokyo could also join the effort, although no official procedures have yet been launched.
Ultimately, the national government will decide. All interested prefectures must submit a project. After review, only three will be selected to finally come to fruition and become the country’s first hotel-casinos.
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