US-based Wynn Resorts is in the race for a casino license in Japan with “Yokohama Focus” at the core of its strategy. The gambling and hospitality giant has also announced to open an office on December 15 for its Japanese subsidiary called Wynn Resorts Development Japan. The new office would be in Yokohama as the company is wholly focussed on developing a casino in the region.
In a statement to the press, Matt Maddox, the chief executive of Wynn Resorts, said that the gambling operator would talk to and also listen carefully to local governments, companies, and residents, and adopt a “Yokohama focus.” The operator seeks to ink a deal with the city to develop a “unique” Japanese integrated resort or “IR.”
Competing With Regional Gmabling Giant Melco
In Yokohama, the US-based Wynn Resorts would be competing directly with the regional casino gambling giant Melco. While Wynn Resorts has confirmed its Yokohama Focus strategy, in September, Melco also said it is working on a “Yokohama First” policy.
Earlier, explaining what the Yokohama First policy means, Melco CEO Lawrence Ho said that the “Yokohama First” strategy means “the incredible team of experts and talents we have assembled will focus on bringing to Yokohama the best IR the world has ever seen.”
Both Melco and Wynn resorts had earlier demonstrated an interest in developing a casino resort in Osaka prefecture. However, the operators have confirmed that they are no longer vying for a casino license in Osaka.
Stricter Regulations Puts Off Investors
As Japan is poised to launch three casinos in the first phase of its gambling expansion plan, stricter regulations and requirements have dampened the spirit of investors. Earlier when Japan announced its gambling expansion plans, gambling operators and investors from across the globe rushed to forge local partnerships and open local offices.