Yokohama Mayor “not surprised” by LSV exit

Mayor Fumiko Hayashi believes the Covid-19 pandemic played a part on the operator’s decision to withdraw from the IR process.

Japan.- The Mayor of Yokohama has said she was ‘not surprised by the decision of Las Vegas Sands’ to exit the city’s integrated resort bidding process.

Yesterday, it was announced that the casino operator was withdrawing its bid to be the operator of Yokohama’s first IR.

Of the decision to withdraw from the Yokohama IR bid, LVS Chairman and CEO, Sheldon Adelson, argued that ‘the framework around the development of an IR has made our goals there unreachable’.

In reaction to the Las Vegas Sands exit, Yokohama Mayor Fumiko Hayashi stated at a press conference: “I am not particularly surprised.”

“I believe they had to consider the investment timing amidst a difficult global economic situation (due to the Covid-19 pandemic).”