American operator, Wynn Resorts Limited, has reportedly announced that it is set to concentrate all of its efforts on the city of Yokohama as it looks to secure a deal to run one of three coming Japanese casinos.
According to a report from GGRAsia, the Las Vegas-headquartered firm used a Wednesday filing to proclaim that it would now have a ‘Yokohama focus’ when it comes to Japan and moreover intends establish a local subsidiary in the city of some 3.7 million inhabitants to be christened Wynn Resorts Development Japan.
Wynn Resorts Limited is responsible for a pair of Las Vegas casino resorts and also holds a majority stake in the firm behind Macau’s Wynn Palace Cotai and Wynn Macau properties, Wynn Macau Limited. The operator had originally been concentrating its Japanese efforts on the city of Osaka but detailed in October that it would be abandoning this locale in favour of communities in the Kanto region, which is home to the giant metropolises of Tokyo and Yokohama.
Although most gambling is currently illegal in Japan, the coalition government of Prime Minister Shinzo Abe passed legislation in July of last year that is to see the nation of some 126 million people offer up a trio of ten-year casino licenses. In order to be chosen as a host for one of these coming facilities, which are locally known as integrated casino resorts, communities are being required to partner with an experienced foreign operator before submitting their finished plans to a federal selection committee in advance of a July 30, 2021, deadline.
GGRAsia reported that Wynn Resorts Limited’s decision means that it will now be going up against fellow American firm Las Vegas Sands Corporation as well as Hong Kong-based rival Melco Resorts and Entertainment Limited in the race to be selected as the operator for the envisioned Yokohama integrated casino resort. Should it eventually prevail, the Nevada company will purportedly be required to spend upwards of $10 billion to bring a facility featuring multiple hotels and restaurants as well as conference and exhibition facilities and a casino to a 116-acre waterfront parcel of land situated near the city’s Yamashita Park.