Genting Singapore and Melco Resorts & Entertainment have advanced to the final round of Yokohama’s Request for Proposal (RFP) qualification screening process to build an Integrated Resort casino at Yamashita Pier.
With Galaxy, SBM, Wynn, and Las Vegas Sands all withdrawing from the race in the last year, Shotoku Corp’s third application fell by the wayside. Sega Sammy Holdings, a Japanese company, is still running, having joined the Genting Singapore consortium with Kajima Corporation.
Meanwhile, Melco has partnered with Taisei Corporation, Japanese construction, and civil engineering firm.
Yokohama has set a June 11 deadline for proposal documents. And it plans to inform the central government of its chosen operator by April 2022.
“Ever since Yokohama declared its candidacy, we have said that we are Yokohama first,” said Lawrence Ho, CEO of Melco. Yokohama continues to be the most appealing IR destination.
Moreover, due to its strength in the locals market, Maybank Research believes a Yokohama casino would clear up in Japan. And it would generate US$7 billion in GGR and acquire a 60% share of the Japanese casino market.
“Genting Singapore is in a far better position than its competitors,” said analyst Samuel Yin Shao Yang. Genting Singapore has divulged significantly less information on its Yokohama IR bid. Regardless, our Japanese channel checks indicate that Genting Singapore is currently pursuing its Yokohama IR bid and is in a good position to win the Yokohama IR RFP process than most of its competitors.”