The commentary referred to the term “integrated resort” (IR), used in Japan to denote large-scale casino complexes with associated tourism facilities including meeting space, hotels, shopping and entertainment venues.
The Yokohama city authorities announced in late January the timetable for the RFP stage of the metropolis’ tilt at having a casino complex. It will have two phases: the first running from February to May; followed by a second phase between June 1 and June 11.
Wynn issued a statement noting the Las Vegas-based company is still interested in landing a license in another Japanese city, but is backing away from Yokohama after closing its small office there last summer.
“Wynn Resorts continues to closely monitor the integrated-resort situation in Japan and views the country as a strong potential market,” the company said in a statement to the Las Vegas Review-Journal newspaper.
“While Wynn’s positive pursuit of an IR development in the country is undiminished, it will not be participating in the upcoming request-for-proposal process by the City of Yokohama, because there is not yet clarity regarding the post-COVID-19 international IR market nor the definitive national basic policy to meaningfully update our previously submitted plans and to complete, with the necessary detail, the documents published by the city,” the company explained.
Source: GMB
