Yokohama casino may cost €10.7 billion

The city found out through the request for information process that a Yokohama casino may be highly expensive.

Japan.- Different Japanese regional governments are considering a push for an integrated resort (IR) licence and Yokohama is one of them. However, the city found out that a casino development may cost up to €10.7 billion.

The information surged through a request for information (RFI) process, but it’s unknown who gave such an answer. Other entities – from 12 contributors – said it may cost as low as €5 billion.

An estimated €2.8 billion to €7.1 billion revenue could come from a Yokohama casino, the RFI revealed. The estimate for annual EBITDA may range from €652 million to €1.7 billion.

Wynn targets Yokohama

Wynn Resorts had already announced it will open an office in Japan but further details have been revealed. According to Wynn Resorts Development Japan (an affiliate company for the operator in the country) president Chris Gordon, they want to build the largest integrated resort (IR) in the whole world either in the capital city, in Yokohama or Osaka.

“The current projections are that it would be the largest Integrated Resort in the world,” Gordon said, as quoted by AGBrief. He also explained that the initial investment for such a development would be between €7 billion and €8 billion, with annual operating expenses as high as €1.2 billion.

The official further detailed that Wynn Resorts is seeking to land a partnership deal with at least one major local company to gain additional credibility, and announced the project would employ between 11,000 and 16,700 people.