Melco Resorts is finally giving up its hopes in Yokohama after the newly elected mayor announced that the city is withdrawing its integrated resort (IR) consideration. However, the casino company is still determined to continue seeking market entry into Japan.
Japan will start receiving IR filling from interested prefectures and cities starting on 1st October through 28th April 2022. Yokohama has already annulled its interest in a hosting casino resort.
Mayor Dr. Takeharu Yamanaka’s victory is partially credited to his strong-opposing views on casino gambling. Melco Resorts and Genting Group were the two qualified bidders for Yokohama.
Lawrence Ho, Melco CEO, and founder affirmed that the company is not to be deterred by Yokohama’s exit and would continue focusing on Japan.
“Melco has been working on the ground in Japan for over a decade. We firmly believe in the country’s long-term potential and remain committed to exploring opportunities to develop the world’s best-integrated resort in Japan.”
Melco Resorts is a Macau-based casino operator. The group also owns integrated resorts in the Philippines. The company is also constructing a $667 million City of Dreams Mediterranean complex in Cyprus.