After the withdrawal of Galaxy Entertainment, only four companies remain interested in developing an IR in Yokohama.<\/p>\n\n\n\n\n\n\n\n
Japan.- Maybank Research has said it believes that Genting Singapore<\/strong>\u00a0is well-positioned to win Yokohama’s IR bid<\/strong>.<\/p>\n\n\n\n Its chances of winning Yokohama’s tender increased after the\u00a0withdrawal of Galaxy Entertainment<\/a>.<\/p>\n\n\n\n Galaxy Entertainment<\/strong>\u00a0announced that it had\u00a0decided not to participate in the request-for-proposal (RFP)\u00a0<\/strong>as the business climate had been \u201cexacerbated by the Covid-19 pandemic.\u201d<\/p>\n\n\n\n Apart from Genting Singapore, there are other three companies interested in developing an IR in Yokohama:\u00a0Melco Resorts & Entertainment Limited, Sega Sammy Holdings and Shotoku<\/strong>.<\/p>\n\n\n\n According to analysts, the Yokohama IR development could\u00a0generate a gross gaming revenue (GGR)<\/strong>\u00a0of nearly US$7bn a year and\u00a0US$2.7bn in net profit<\/strong>.<\/p>\n\n\n\n Although Genting Singapore has chances to win a Yokohama IR licence, Maybank Research warned the\u00a0upcoming mayoral elections could change the climate<\/strong>.<\/p>\n\n\n\n According to local media, analysts said: “Efforts may come to nought<\/strong>\u00a0if an anti-IR mayor is elected.”<\/p>\n\n\n\n Yokohama will hold mayoral elections<\/strong> on Sunday, August 22. Current pro-IR mayor Fumiko Hayashi<\/a> has not yet announced whether she will run for a fourth term in office<\/strong>.<\/p>\n\n\n\n There are two anti-IR candidates:\u00a0Masataka Ota<\/a>\u00a0and\u00a0Akiko Fujimura<\/a>.<\/p>\n\n\n\n Masataka Ota<\/strong> is 75 years old and a member of the Constitutional Democratic Party. He has been elected to the Yokohama City Council for 11 four-year periods<\/strong> since the 1970s.<\/p>\n\n\n\n Ota said: \u201cIf I become the mayor of Yokohama, the casino issue will disappear <\/strong>that very day. To put it plainly, I will not do casinos.\u201d<\/p>\n\n\n\nYokohama Mayoral Elections could change IR plans<\/h2>\n\n\n\n