Yokohama To Receive Millions In Investment For Casino Bid

Yokohama To Receive Millions In Investment For Casino Bid

Japan – Following the announcement last year from the government of Japan to allow 3 licenses for casino resorts in the  East Asian country, it is reported that the city of Yokohama is to receive over 3 million Euro of investment.

According to officials in the capital city of Kanagawa Prefecture, which sits on Tokyo Bay, the cash boost for Yokohama will be added to the annual budget in a bid to secure one of Japan’s three casino resort licenses.

A suggested location for the resort is Yamashita Wharf near Yamashita Park, famous for its Port of Yokohama views.

Along with Yokohama, other major cities in Japan are also looking to secure a license, including; Kawasaki and Osaka.

It is reported that the investment in Yokohama will also be used to improve local infrastucture in the region including public relations, a transport network and gambling activity research.

Officials estimate that the casino integrated resort may benefit the local economy to the tune of 13 million Euro per year.

There have been a number of gambling organisations keen to be part of Yokohama’s casino bid with big global names tendering for the contract, including; Wynn Resorts Ltd – a Nevada based developer of casino hotel resorts and Melco Resorts and Entertainment Limited – a Hong Kong based operator of casino gaming resorts.

Up until July 2018, gambling in Japan was officially illegal and banned. Once the resorts are established, it is reported that citizens of Japan will have restricted access to the integrated casino resorts and may be charged an entrance fee of around 50 Euro in an attempt to discourage addiction.

Leave a Reply

Your email address will not be published. Required fields are marked *