Casino and gambling operator Melco has announced to open a third office in Japan in Yokohama. The announcement came after the Yokohama prefecture recently announced to join the race for hosting a casino in Japan. Melco has offices in Tokyo and Osaka.
In a filing with the Hong Kong Stock Exchange last week, the company revealed that Japan is the company’s priority in terms of its expansion plans.
“With offices in Tokyo and Osaka and an upcoming one in Yokohama along with a local [Japan] leadership team, the group is now fully engaged to explore local partnerships and to further build up our local presence,” the company’s statement read.
Last month, Yokohama mayor confirmed that they will be joining the race to host a casino in Japan. The port city with a population of some 3.75 million is considering building the resorts at the 47-hectare Yamashita Wharf, adjacent to popular sightseeing spot Yamashita Park.
Japan casino market is expected to be one of the largest in the world. Top gambling operators from across the globe have been vying for a Japanese IR license already forging partnerships with local companies.
According to a recent report from Sanford Bernstein, the Japanese casino market will generate $8 billion in gross gaming revenues annually. As such, it would be smaller than the Nevada casino market which grossed about $11 billion in revenue in 2018. The Casino market in Japan is expected to be the third-largest globally only after Macau and Nevada.