Blow for Casino Plans as IR Opponent Wins Yokohama Election
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Yokohama's new mayor, Takeharu Yamanaka, has opposed the idea of a casino resort. He will issue a formal statement soon making it clear that Yokohamas will not make a hosting bid for the integrated resort project. Japan legalized casino gambling in 2016. It paved the way for integrated resorts in the country.
Takeharu Yamanaka won the mayoral election in Yokohama. He will probably abandon the IR project in the city. Genting Singapore and Melco Resorts are the only two contenders left in a race for the project. Maybank analysts had suggested that Gentings Singapore had more chance of securing the contract.
There are three cities or prefectures hoping to host one of Japan’s IR projects. Nagasaki, Osaka and Wakayama are the only cities left in the race. Casinos Austria will develop and run a casino in Nagasasaki. MGM Resorts International has plans for a ¥1tn ($9.08bn) casino on the man-made island of Yumeshima. Clairvest Group has backed a $4.3bn integrated resort project in Wakaysama.
