Japan: Galaxy Entertainment quits Yokohama IR bid

The company said the Covid-19 pandemic had altered its plans.
The company said the Covid-19 pandemic had altered its plans.

Galaxy Entertainment has announced it will not participate in the request-for-proposal (RFP) process for Yokohama’s IR bid.

Japan.- The Covid-19 pandemic continues to hamper Japan’s plans to develop three integrated resorts. Galaxy Entertainment has now pulled out of the RFP process in Yokohama.

The deciision comes just days after Suncity Group dropped out of the contest to develop Wakayama’s IR bid due to uncertainty caused by the impact of the Covid-19 pandemic.

Galaxy Entertainment thanked the Yokohama prefecture for letting the company play a role in Yokohama’s IR selection but said it had decided not to participate in the RFP as the business climate had been “exacerbated by the Covid-19 pandemic.”

The company said it will continue supporting Japan “in achieving its goal to develop a sustainable and world-class IR industry.”

After the withdrawal of Galaxy Entertainment, four companies remain interested in developing an IR in Yokohama: Genting Singapore Limited, Melco Resorts & Entertainment Limited, Sega Sammy Holdings and Shotoku.

Yokohama will hold mayoral elections on Sunday August 22. Current pro-IR mayor Fumiko Hayashi has not yet announced whether she will run for a fourth term in office.

Two independent anti-IR candidatesMasataka Ota and Akiko Fujimura, have launched their respective campaigns.

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Galaxy Entertainment integrated resorts