Galaxy Entertainment Leaves Race For Yokohama Casino Resort
Macau casino operator Galaxy Entertainment has announced it is leaving the bidding for an integrated resort in Yokohama Japan.
In what was a surprise to the casino industry Galaxy Vice Chairman Francis Lui said: Galaxy Entertainment Group, along with our partners from Monte-Carlo Société des Bains de Mer from the Principality of Monaco, have been actively pursuing discussion for several years with the Japan government and local communities including Yokohama. The world and business climate continues to evolve which has been exacerbated by the Covid-19 pandemic. We are honored to have learned a tremendous amount about the people, culture, and ambitions of Yokohama and highly value the relationships that we have developed with the government, business associations and local community including Kanagawa over the past few years. We greatly appreciate the opportunity to play an active role in Yokohama’s IR selection process but have decided to not participate at this time.”
He finished by saying: “We will continue our dialogue to support Japan in achieving its goal to develop a sustainable and world-class IR industry.”
The announcement follows the 2020 departure by Galaxy Entertainment from the Osaka bid for a casino resort and now questions are asked where for Galaxy Entertainment in Japan?
By making the announcement it leaves Galaxy Entertainment with no clear location and some analysts believe the company could now wait till the end of the decade where it believes a second round of integrated resorts could take place.
