Sega Sammy Holdings has announced a partnership with Genting Singapore to bid for Yokohama\u2019s IR development.<\/p>\n\n\n\n\n\n\n\n
Japan.- After withdrawing as a sole contender,\u00a0Sega Sammy\u00a0<\/strong>has announced that it has entered into a partnership with Genting Singapore<\/strong> to join its bid to build an integrated resort in Yokohama.<\/p>\n\n\n\n It will join a consortium along with Genting Singapore, Sohgo Security Services Co<\/strong>.,\u00a0Kajima Corp<\/strong>.,\u00a0Takenaka Corp<\/strong>., and\u00a0Obayashi Corp<\/strong>.<\/p>\n\n\n\n Sega Sammy hailed Genting Singapore as the best possible partner for an integrated resort\u00a0<\/strong>due to its successful Resorts World Sentosa operation in Singapore.\u00a0<\/p>\n\n\n\n Genting Singapore said it will be leading the consortium of Japanese parnets to create “a world-class IR destination that is strategically positioned<\/strong>, sustainable and anchored on strong local collaborations.”<\/p>\n\n\n\n It said it is “ideally positioned to\u00a0deliver an iconic IR to transform and grow Yokohama City\u00a0<\/strong>to become a major tourist destination.”<\/p>\n\n\n\n Maybank Research has said it believes Genting Singapore<\/strong>\u00a0is well-positioned to win\u00a0Yokohama\u2019s IR bid<\/a>.<\/p>\n\n\n\n According to analysts, Yokohama\u2019s planned IR development could generate a gross gaming revenue (GGR)<\/strong> of nearly US$7bn a year and US$2.7bn in net profit<\/strong>.<\/p>\n\n\n\n Galaxy Entertainment<\/a>\u00a0dropped its bid claiming the business climate had been\u00a0\u201cexacerbated by the Covid-19 pandemic.\u201d<\/strong><\/p>\n\n\n\n Another contender, Shotoku,\u00a0<\/strong>was dismissed after the Yokohama city government said\u00a0its bid was below minimum requirements<\/strong>. The other remaining contender is\u00a0Melco Resorts<\/strong>. <\/p>\n\n\n\n Yokohama has mayoral elections coming up in August. The\u00a0Constitutional Democratic Party of Japan (CDPJ)<\/strong>\u00a0has yet to select an anti-IR candidate<\/a>\u00a0<\/strong>for the elections to be held on\u00a0Sunday, August 22<\/strong>.<\/p>\n\n\n\n