GGRAsia – GEN Singapore shelves IR plan for Yokohama

GEN Singapore shelves IR plan for Yokohama

Sep 10, 2021 Newsdesk Japan, Latest News, Top of the deck

Genting Singapore Ltd, previously identified as one of the two qualified bidders in Yokohama’s request-for-proposal (RFP) process for an integrated resort (IR), says it has shelved its effort. That announcement comes after the city’s newly-elected anti-casino mayor, Takeharu Yamanaka, confirmed the Japanese metropolis will “abolish”, with effect from October 1, an office specially-assigned to promoting the casino initiative.

Genting Singapore is the operator of the Resorts World Sentosa casino resort in Singapore. The casino firm linked with Japan-based entertainment and gaming conglomerate Sega Sammy Holdings Inc for the Yokohama project, with Japan-based Kajima Corp chosen as the construction partner

“The company wishes to announce that Yokohama city has on 10 September 2021 published its decision to cancel the Yokohama IR bid process and, accordingly, the company’s participation in the Yokohama IR bid will be discontinued,” stated Genting Singapore in a Friday press release.

It added: “We are surprised and disappointed by the unexpected turn of events leading to the city’s decision to cancel the Yokohama IR bid.”

Genting Singapore said the company, together with its consortium and supporting partners, had devoted “considerable time” and “best efforts” to prepare and submit a “compelling bid” for a casino resort in Yokohama.

The group said its plan involved a “significant investment” that would “benefit the city of Yokohama and its community, and at the same time make Yokohama a world-class tourism destination.”

“The company would like to thank all parties who have supported and contributed to our Yokohama IR bid and we extend our best wishes to Yokohama city,” added the casino firm.

Yokohama concluded in June its RFP submission period. Aside from Genting Singapore, Melco Resorts and Entertainment Ltd, an operator of venues in Macau and the Philippines, had been identified as the other contender in the race.