Yokohama concerned over viability of IR project

Yokohama concerned over viability of 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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