A plenary session of Yokohama city council voted on Tuesday to allocate JPY400 million (US$3.6 million) for the metropolis’ effort to get a casino complex or integrated resort (IR) as they are known in Japan.
According to information collated by GGRAsia’s Japan correspondent, the move was part of the city’s financial-year 2020 budget plan, and the money will go the IR promotion work done by Yokohama’s Urban Development Bureau.
On March 12 the Yokohama city (pictured) announced a draft IR implementation policy and said it would go out for public consultation with the aim of finalising in June the policy. After that Yokohama will launch a request-for-proposal (RFP) process aimed at potential partners from the private sector.
According to our correspondent, the city council has 86 members, with the Liberal Democratic Party and Komeito – two parties that also govern at national level – having 52 of the local assembly seats.
The decision to provide the IR promotion budget came on the same day news broke of the postponement until 2021 – due to the coronavirus pandemic – of the Tokyo Olympics, which should have been held this summer.
According to late-January commentary by the national government – amid an alleged bribery scandal linked to the casino policy but prior to the coronavirus alert – Japan planned to stick to a previously-mentioned timetable for the IR plan. Under it, local governments would have from January to July in 2021 to apply for the right to host a casino resort. Up to three will be permitted in a first phase of liberalisation.
Sep 17, 2021The act of a patron leaving their deposits with a Macau casino, via the respective VIP host or a junket, should still be legitimate as long as the deposit funds involved are used only for gambling,...
”We are moving rapidly as we execute on our strategy and the planned divestitures are well-progressed”
President and chief executive of casino equipment provider Scientific Games