Akihabara News (Tokyo) — All three of the major Integrated Resorts (IR) firms pursuing a partnership with the Yokohama municipal government have now conceded that their bids have come to an end, as new anti-casino Mayor Takeharu Yamanaka initiated formal procedures to bring the matter to a close.
Despite a post-election appeal from the adamantly pro-IR Yokohama Chamber of Commerce & Industry to break his campaign promise and to defy the democratically expressed will of the overwhelming majority of the city’s voters, Mayor Yamanaka did not waver, making clear that he fully intended to pull the plug on the city’s IR bid.
Last Friday, Yamanaka—in his first ever appearance before the city council—formally announced his decision, noting that the city’s IR promotion office would be abolished as of October 1 and its staff reassigned.
The same day, both Genting Singapore and Sega Sammy Holdings, which had combined their efforts into a single consortium, acknowledged that the process was over.
Sega Sammy’s statement was more spare, simply noting that “we have been forced to suspend our participation in IR business in Yokohama.”
Genting Singapore revealed more emotion and even a sense of betrayal about the matter, declaring, “We are surprised and disappointed by the unexpected turn of events leading to the city’s decision to cancel the Yokohama IR bid, as the board of directors and management of the company, together with our consortium partners and supporting partners, have devoted considerable time and our best efforts to prepare and submit a compelling bid and proposed a significant investment that will benefit the city of Yokohama and its community, and at the same time make Yokohama a world-class tourism destination.”
Melco Resorts & Entertainment waited until yesterday to make its statement, but it also had the most to say.
“For the past several years, we have worked with our partners to devise a superlative, world-class IR proposal that reflects the unique characteristics and culture of Yokohama and which would put the city on the global stage of tourism,” stated Lawrence Ho, chairman and CEO of the firm, “Unfortunately, the citizens of Yokohama have decided otherwise, and the mayoral election results give a clear verdict. The new mayor, having campaigned on an anti-IR platform, has now closed the door on the process we engaged in with our partners. While we are disappointed, we are grateful for the friendships that we have formed throughout the process and express our sincere gratitude to the people and government of Yokohama, as well as our business and community partners, for their tremendous support.”
Although Melco’s major bid in Yokohama was terminated by the elections, and its small, silent bid in Nagasaki was rejected, Lawrence Ho affirmed that his company still desired to be involved in some way in the Japanese market.
“Melco has been working on the ground in Japan for over a decade. We firmly believe in the country’s long-term potential and remain committed to exploring opportunities to develop the world’s best Integrated Resort in Japan. We will be closing our Yokohama office while maintaining a representative office in Tokyo,” he stated.
Ho had indicated for several years that should his firm win a contract for a major IR in the country, that Melco would move its head offices from Macau to Japan and that he would personally take up Japanese residence.
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