Japan – It has been reported by the local government of the city of Yokohama, Japan, that it is to organise the creation of a new independent integrated resort committee ahead of its proposal to the Government of Japan for one of the three available licenses for gambling in the East Asian country.
Officials in Yokohama said that they will be submitting an authoritative order to the Yokohama Assembly for the committee, so that it can select which private partner will help develop the casino resort should its proposal be successful.
It is reported that the committee will consist of at least seven members that will be independent of the city’s government, but experienced in integrated resorts and report back to Yokohama’s assembly with developments.
Yokohama is expected to deliver its policy for an integrated resort bid at the end of the first quarter of 2020 and its selection process for private development partners will take place over nine months from April 2020 to December 2020.
Following the partnership selection, the city officials will submit its integrated resort proposal to the Government of Japan by the middle of 2021.
So far, it is believed that at least seven firms have shown expressions of interest for involvement in the integrated resort. One of which is Genting Singapore Ltd; a Singapore-based regional leisure, hospitality and integrated resorts development specialist that develops and operates ‘large scale integrated resorts, investments, casino operations… as well as marketing support services to leisure and hospitality related businesses and investments’. The Singapore firm said that it was willing to invest major figures in the region of $10bn for the integrated resort.