Aug 09 (Japan Times) - OSAKA – Japan’s long-running mission to get casino resorts off the ground has been delayed not only because of the coronavirus but also due to related political scandals and public opposition.
As Yokohama prepares for a mayoral election on Aug. 22, it and other localities hoping for a casino resort are moving forward with plans to formally finalize their proposals, which the central government will accept from October until April 28, 2022. A maximum of three locations for the so-called integrated resorts (IR) — which combine casinos with hotels and other facilities — will then be formally announced sometime after May.
Yokohama
Late last month, Yokohama City Hall opened an exhibition showcasing design concepts from the two operators bidding for the IR. Yokohama has not disclosed whose concepts were on display at the exhibition. But Genting Singapore and Macau’s Melco Resorts & Entertainment have publicly expressed a desire to bid for a casino project in the city. The display at the city’s Yamashita Pier included images and architectural models and ran until Saturday.
Wakayama
The city of Wakayama’s port district is the location for a proposed IR. Last month, the prefecture formally selected Clairvest Neem Ventures, a subsidiary of Canadian private equity management firm Clairvest Group Inc., as the operator partner. Clairvest has promised an initial investment of ¥470 billion.
Osaka
Osaka Prefecture and the city of Osaka are supporting a consortium led by America’s MGM Resorts International and Orix, which are proposing to build a casino resort in Osaka bay on the city’s Yumeshima artificial island. The resort plan, which calls for a ¥1 trillion initial investment, includes a hotel facility of at least 100,000 square meters with between 2,000 and 2,500 rooms, as well as a 20,000 square meter exhibition hall that can hold up to 6,000 people.
Nagasaki Prefecture
Unlike Osaka and Wakayama, where local governments have already chosen who they want to partner with for an IR, Nagasaki has three candidate operators whose proposals are being considered. One is from the Oshidori Consortium, led by Oshidori International Development, which, in turn, is part of Oshidori International Holdings Inc., a Hong Kong entity. Casinos Austria and NIKI Chyau Fwu (Parkview) Group, a Japan-Taiwanese consortium, are also submitting bids. The winner is expected to be decided this month.
