Extra cash for Yokohama integrated casino resort bid

In Japan and officials in Yokohama have reportedly announced that they will be adding some ¥400 million ($3.63 million) to the city’s initial annual budget in order to aid efforts at securing one of the nation’s coming trio of integrated casino resort licenses.

According to a report from Inside Asian Gaming, the city of almost four million inhabitants is hoping to be given federal approval to bring a Las Vegas-style gambling facility to a 116-acre waterfront parcel of land near Yamashita Park so as to increase its attractiveness to both foreign and domestic tourists. However, it is facing stiff competition for one of the three licenses from up to seven other communities including the likes of Osaka, Sasebo and Kawasaki.

Designated destinations:

Citing local media reports and Inside Asian Gaming detailed that officials in Yokohama subsequently intend to earmark around ¥220 million ($1.99 million) of the coming cash to improve the immediate candidate area and assist the city in recruiting a potential international operating partner for its envisioned integrated casino resort.

Yokohama authorities moreover plan to set aside about ¥95 million ($862,200) of the funds to develop the local transportation network as well as some ¥55 million ($499,000) for public relations and resident briefings while utilizing up to ¥10 million ($90,700) to research problem gambling reduction strategies.

Definitive deadline:

Yokohama completed the initial request for concept (RFC) phase of its plan to secure one of these coming Japanese casino licenses last month and is now said to be sifting through applications from as many as seven potential operators including Wynn Resorts Limited, Melco Resorts and Entertainment Limited and Las Vegas Sands Corporation. Officials are now using these tenders as a base from which to work out a draft implementation policy in hopes of being able to name a final firm to run its gambling-friendly enterprise in advance of a federally-instituted July 30, 2021, cut-off date.