Galaxy withdraws from Osaka IR
Galaxy Entertainment confirmed it won’t pursue an Osaka IR but it will remain in the Japanese race, focusing on different locations.
Japan.- The Japanese casino race is well underway, but some companies are already pulling out. That’s the case of Galaxy Entertainment and a potential Osaka IR development.
Inside Asian Gaming reported the company’s interest is no longer put on that location, but it will pursue others.
“We have greatly appreciated being able to play an active role in the RFC stage,” Vice Chairman Francis Lui said. “(We’ve) enjoyed the in-depth discussion this afforded us – in particular, being given the opportunity to listen, learn and share our vision for how this new industry could benefit the city of Osaka, the business community, its citizens and the wider economy of Japan.
“However, after deep reflection, we decided at this time that our focus should be on other potential locations in Japan, including among others, Yokohama.
“We informed the Osaka City Integrated Resort Promotion Bureau of this decision well ahead of the 14 February deadline for application to participate in the RFP and the City were understanding and appreciative of the efforts we made in assisting them with the process to date.”
Genting Singapore is pushing a Japan casino plan and is working to get it this year. That’s why the company revealed it is “in the process of exploring partners” for its IR.
Genting Singapore has plans to invest US$10 billion in any city or prefecture. For that matter, it seeks to get its business partner ready by September/October.
A corruption scandal seems to be the last thing the gaming industry needs as it nears the country. The Japan IR segment was getting closer but is now at its worst acceptance rates.
An Asahi Shinbum survey showed that the local population is now reluctant towards the industry. Out of the respondents in the January 25-26 telephone survey, 64% think Japan should freeze its IR plans. Still, 20% of respondents favoured moving forward on it.