Yokohama begins IR public consultation period

Lawmakers have published draft IR policies with a one month public consultation period starting tomorrow.

Japan.- Authorities in Yokohama have published the draft IR policy with a one month public consultation period starting from tomorrow.

Yokohama city will use public input to formalize its Implementation Policy and Recruitment Summary, which will be published in June.

At this point, the RFP process will get underway to help identify potential partners for an IR should it be awarded a licence by the national government.

Lawmakers in Yokohama will also ask the city’s assembly to set up an independent selection committee to help select its IR partners.

From October to December 2019 the city received submissions from seven interested operators looking to construct an IR should it receive a licence.

Some of the interested companies are Wynn Resorts and Melco Resorts & Entertainment, which has already declared its “Yokohama First” policy and intention to open a local office in the city in September.

Las Vegas Sands also indicated in October that Yokohama had become the main focus of its plans for Japan and Sega Sammy Holdings recently announced a strategic business alliance with UK firm Foster + Partners to jointly pursue an integrated resort license in the city.