Las Vegas Sands Corporation, the American hospitality and casino resort firm situated in Nevada, USA, has pulled out of the race in Yokohama, Japan, for operating one of the three licensed integrated resorts in the East Asian nation from next year.
Just a short while ago, before the Coronavirus pandemic struck Japan and almost every other country around the world, the government of Japan announced that it would be legalising gambling for the first time in the country’s history and was to issue three licenses for casino resorts.
Tendering and proposals are still ongoing despite the current Covid-19 pandemic and local governments are working with the government of Japan on its schedule to prepare for bidding.
However, the second largest city of Japan by population Yokohama, has been dealt a blow in its potential bid as Las Vegas Sands announced that it has withdrawn its plans to tender for the casino resort with the city’s mayor Fumiko Hayashi saying that she is not particularly surprised.
According to reports, the firm implied that the restrictive regulations were the main reason behind the withdrawal decision, but Fumiko Hayashi stated that she believed that it was not the right time for the company to make such an investment at an unprecedented time due to the ongoing Coronavirus crisis.
The news came just hours before the Japanese Prime Minister lifted the state of emergency imposed by the Covid-19 pandemic in the majority of Japanese prefectures following a sharp decline in new infections. Reportedly, the state of emergency order is still applicable to major regions Tokyo and Osaka due to the emergence of new infections on a daily basis.
The city of Yokohama officials are still waiting for the Request For Proposal regarding its integrated casino resort so that it will know which corporations are serious about becoming its potential legal licensed gambling operator.
Officials in the region have set out their timeline and are looking to publish the public feedback results in August 2020 along with its final guidelines for the resort.