In Japan and Friday reportedly saw the city of Yokohama publish its draft implementation policy as it continues with a plan that could ultimately see it selected as a host for one of the nation’s coming trio of integrated casino resorts.
According to a report from Inside Asian Gaming, Yokohama is hoping to take advantage of federal legislation passed in the summer of 2018 so as to be given the right to bring a Las Vegas-style development complete with multiple hotels, exhibition facilities, retail elements and a casino to a 116-acre waterfront parcel of land near Yamashita Park. The giant city purportedly believes that the presence of such a gambling-friendly venue would help it to attract even more foreign and domestic tourists and lead to an annual tax windfall worth as much as $1.08 billion.
Continuing crack:
However, the country’s second largest city is reportedly facing stiff competition from up to eight other candidate communities although it is said to have attracted interest from as many as seven potential international operating partners including the likes of Wynn Resorts Limited, Melco Resorts and Entertainment Limited and Las Vegas Sands Corporation via the initial request for concept (RFC) phase of its plan in December.
Inside Asian Gaming reported that Yokohama’s draft implementation policy is to be used to select a preferred operating partner before the pair officially present their final agreed bid to a panel of federal selectors in advance of a July 30, 2021, deadline. The document purportedly contains language that would require the chosen casino firm to build a facility featuring a minimum $10 billion price tag to serve as a tourist and economic magnet highlighting local culture and traditions.
Civic soundings:
Yokohama is now reportedly due to hold a series of public consultations concerning its draft implementation policy in advance of revising this document throughout April and May. From here and Inside Asian Gaming detailed that the Japanese city is aiming to launch the official request for proposal (RFP) stage of the process next year in hopes of being able to inaugurate its integrated casino resort before the end of the decade.
Rapid rival:
Inside Asian Gaming utilized an earlier report to explain that Nagasaki Prefecture is claiming that its competing bid could see the Huis Ten Bosch theme park near the small city of Sasebo open an integrated casino resort as soon as 2025. The Kyushu jurisdiction purportedly released its own draft implementation policy in December and is now finalizing the document’s language with an expected release date sometime later this year.
Ambitious aims:
Should it eventually get the nod from federal selectors, Nagasaki Prefecture reportedly explained that its gambling-friendly facility would premiere on a 74-acre site adjacent to the theme park between April of 2025 and March of 2026 to create between 28,000 and 36,000 new jobs. Such a project has already purportedly attracted interest from multiple international firms including the likes of Casinos Austria International while local officials are said to be confident that their envisioned venue would attract up to 9.3 million visitors every year.
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