Osaka - The announcement last week by Las Vegas Sands Corp. that it was withdrawing from its quest to build an integrated casino resort is a major setback in Japan's efforts to bring casino gambling to the country.
The decision by Sands and its founder, billionaire Sheldon Adelson, who is close to U.S. President Donald Trump, comes at a time when doubts are growing as to whether integrated resorts can open within the next few years, given the economic damage from the COVID-19 pandemic, continued concerns about problem gambling and the conditions Japan plans to impose on casino operators.
Adelson had been a particularly important figure in Japan's efforts to grant a maximum of three casino licenses to three host areas.
U.S. media reported that Abe and Trump met with Adelson in Washington in February 2017, during which time Trump mentioned Adelson's efforts to build a casino in Japan.
Eda's electoral district is in Yokohama, where the Sands had expressed an interest in building an integrated casino resort despite strong local opposition.
"Depending on the financial results of its properties in Las Vegas and Macao, there's a sufficient possibility that the integrated resort plan submitted by MGM will be reduced in size from the original plan," said Takashi Kiso, CEO of the International Casino Institute, a Tokyo-based consultancy.
The Yokohama Harbour Transportation Association, which is headquartered on Yamashita Pier — a 47-hectare area presented by Hayashi as a potential site for the casino resort — is one of the ... Caesars Japan Unveils Plans for Yokohama ‘Great Wave’ Integrated Resort. Posted on: September 27, 2018, 05:52h. Last updated on: September 27, 2018, 05:52h. Yokohama Earmarks $3.6 Million in Latest Budget for Integrated Resort Effort. Posted on: March 25, 2020, 11:24h. Last updated on: March 25, 2020, 12:01h. When Yokohama announced in August that the city will throw its hat into the ring in a bid to host a resort, U.S. casino operator Las Vegas Sands Corp. quickly issued a statement expressing its ... Yokohama officials are planning to spin the wheel in hopes of landing one of the three "integrated resort" (IR) locations in Japan that will include a casino, according to sources related to the ... Some time during the next fiscal year starting in April, Yokohama will draw up a plan for an "integrated resort" that combines a casino and other entertainment facilities. Yokohama is among several municipalities hoping for an integrated resort. Having one, city officials estimate, would generate between 7 billion and 10 billion dollars annually for the local economy. They also believe it would become a vital source of tax revenue as Japan's population continues to shrink. ast week, the Yokohama assembly finally rejected the idea of holding a referendum on whether to build a so-called Integrated Resort in the port city, which is considered a front-runner for such a resort, and mayor Hayashi Fumiko has been a vocal advocate.. As part of a strategy to boost tourism and revitalize local economies, Japan's government passed a law in 2016 that gave the green light ... Wynn Resorts Ltd. has taken itself out of a proposal to develop an integrated resort in Yokohama, Japan, but is still looking at other Japanese markets, the company confirmed Tuesday. Japan – It has been reported today that integrated resorts developer; Genting Singapore, which has been involved in gaming and integrated resort development in Australia, the Americas, Malaysia, the Philippines and the United Kingdom over the last twenty years, has stated that it will ‘focus efforts and resources’ on Yokohama, the second largest city in Japan by population.
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