Yokohama concerned over viability of IR project

The prefecture is evaluating the impact of the pandemic on the IR project.
The prefecture is evaluating the impact of the pandemic on the IR project.

Yokohama city is evaluating a way to move forward with its integrated resort project after hold ups due to the pandemic.

Japan.- Yokohama city is concerned on the viability of its integrated resort (IR) project due to the Covid-19 pandemic. According to a senior official, the city is planning to press investors that previously showed interested in the project.

Toshihide Hirahara, who has responsibility for the city’s initiative to develop a large-scale casino complex, said the intention is to contact those operators that submitted proposals under Yokohama’s request-for-concept (RFC) process, which took place in late December.

Before the pandemic crisis, it had been calculated that building an IR would cost up to US$10 billion. Now some analysts consider it should be less.

Meanwhile, the Japanese central government has yet to reveal its basic policy on IRs.

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