Yokohama Integrated Resort (IR) project has to finally face its fate as the newly elected Mayor, Takeharu Yamanaka, does not support the initiative.
Yokohama was supposed to have its own IR and casino, for which it had invited bids. However, owing to opposition by the local residents, the project is as good as dead, at-least for 7 years, as stated by Daniel Cheng, a gaming and hospitality expert.
The mayoral candidate won by whooping 34%, which is 9-10% more than required threshold of 25%, after which he issued a statement, saying, “We will issue a formal statement soon making it clear that Yokohama will not make a hosting bid.”
As per Gambling Insider, only three cities Osaka, Wakayama and Nagasaki have managed to maintain their bids. Osaka has partnered with MGM Resorts International and Orix Corp consortium, Wakayama works with Clairvest, and Nagasaki chose Casinos Austria as its partner, recently.
The election results did not come as a surprise for the industry as the protest petitions were already being filed in the city and the two remaining partners, Melco Resorts & Entertainment and Genting Singapore, are planning to withdraw their bids as well.