{"id":8656,"date":"2020-08-03T21:18:24","date_gmt":"2020-08-03T21:18:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=8656"},"modified":"2026-04-24T03:07:37","modified_gmt":"2026-04-24T06:07:37","slug":"wynn-exits-japan-ir-race-due-to-delays","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wynn-exits-japan-ir-race-due-to-delays","title":{"rendered":"Wynn exits Japan IR race due to delays"},"content":{"rendered":"\n

The company has shut down its Yokohama office due to delays in the national scheme for the development of integrated resorts in Japan.<\/p>\n\n\n\n\n\n\n\n

Japan.- Wynn Resorts has shut down its recently opened Yokohama office, putting an end to its intention to bid to develop an integrated resort (IR) in the city.<\/p>\n\n\n\n

Wynn said: \u201cThe pandemic is having an unprecedented negative impact on integrated resort development, and resort companies such as Wynn are considering how we evolve our operations to align with a post-pandemic market.<\/p>\n\n\n\n

\u201cLong term, we remain interested in the Japan integrated resort market and will monitor the situation closely.\u201d<\/p>\n\n\n\n

Japan still intends to issue three IR licences in 2021, but the novel coronavirus has repeatedly delayed progress on the plans<\/a><\/em><\/strong>. National guidelines due in July and are now \u201cup in the air\u201d without a new deadline.<\/p>\n\n\n\n

The Yokohama IR process is one of the most advanced<\/a><\/strong><\/em> in the country and has several potential suitors but has also been delayed<\/a><\/em><\/strong>.<\/p>\n\n\n\n

Firms including Caesars Entertainment and Las Vegas Sands have already pulled out, not only due to delays but also to the conditions the Japanese government was looking to set for private partners in the ventures.<\/p>\n\n\n\n

MGM Resorts International is one of the main contenders still interested in Osaka\u2019s bid, while Get Nice recently made a US$3.2 million commitment<\/a><\/em><\/strong> to its joint venture in Japan as it aims for the Nagasaki IR.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has shut down its Yokohama office due to delays in the national scheme for the development of integrated resorts in Japan.<\/p>\n","protected":false},"author":2,"featured_media":8659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wynn Resorts has ceased its pursuit of an Integrated Resort (IR) license in Yokohama, Japan, closing its local office due to significant delays in the national IR scheme and the ongoing impact of the pandemic. This withdrawal follows similar exits by Caesars Entertainment and Las Vegas Sands, highlighting challenges in Japan's IR development, though MGM Resorts and Get Nice remain active contenders for other regional bids.","focusai_entities":"Wynn Resorts, Caesars Entertainment, Las Vegas Sands, MGM Resorts International, Get Nice","focusai_location":"Japan, Yokohama, Osaka, Nagasaki","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.75), operator_casino (0.98), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Japan IR Outlook?","query":"What specific regulatory conditions or governance frameworks imposed by the Japanese government proved prohibitive for major international operators like Wynn and Las Vegas Sands, and how might these be adjusted to attract future investment?"},{"label":"Impact on Remaining Bidders?","query":"How does the withdrawal of multiple major contenders from the Yokohama IR bid alter the competitive landscape and valuation prospects for remaining interested parties like MGM Resorts and Get Nice in other Japanese prefectures?"}],"footnotes":""},"categories":[28,16338,158],"tags":[473,470],"class_list":["post-8656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-ir","tag-japan"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8656"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8656\/revisions"}],"predecessor-version":[{"id":8664,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8656\/revisions\/8664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8659"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}