Changed conditions in the wake of the Covid-19 pandemic are among the factors prompting authorities in Yokohama to launch a second request-for-concept from bidders vying to build a resort casino in the Japanese city.
The new RFC will be restricted to the six companies that participated in last year’s first round Las Vegas Sands, Wynn Resorts, Galaxy Entertainment Group, Genting Singapore, Sega Sammy Holdings and Melco Resorts and Entertainment with the addition of a Japanese company, Shotoku Corp., and its partners.
Since then, LVS has said it would not be pursuing a resort license in Japan, at least not for now, and Wynn Resorts has said it was “pretty much ceasing” its efforts in the country as well.
The city had expected the resort to attract up to 39 million visitors, create 119,000 direct and indirect jobs and generate total economic activity in the range of JPY1.6 trillion (US$15.17 billion). But that was before the pandemic and subsequent conversations with the prospective licensees about their Covid-related issues and concerns.
The central government initially has approved the development of three destination resorts with gaming as vehicles for boosting regional economies by attracting foreign tourists.
Local governments were to begin submitting their selections in the first half of 2021. But that, too, has been delayed as a result of the pandemic. Earlier this month, the Japan Tourism Agency issued new policies to guide the process, and submissions are now expected to be delayed until next fall with a closing date of April 2022.
