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Japan’s Yokohama concludes casino RFP submission process

Genting Singapore casino scheme aims to “create a world-class IR destination that is strategically positioned, sustainable and anchored on strong local collaborations”

On Friday, Japan’s Yokohama city concluded its request-for-proposal (RFP) submission period which will see a chosen private-sector partner take on the prefecture’s tilt in hosting an integrated resort (IR).

The metropolis confirmed the already-qualified private-sector firms that have participated in the request-for-proposal stage, featuring Genting Singapore Ltd joint venture with Sega Sammy Holdings Inc.

Kajima CorpIn Friday’s announcement, Kajima Corp was also identified as that consortium’s construction partner, along with Obayashi Corp, and Takenaka Corp, as contractors for the construction phase. Sohgo Security Services Co Ltd., was also mentioned as part of the consortium.

However, Yokohama authorities did not declare the name of a second qualified RFP participant group.

But a Japanese public broadcaster NHK had reported global casino operator Melco Resorts and Entertainment Ltd, and Japanese construction contractor Taisei Corp, as having qualified for the Yokohama RFP, back in May 31.

On Friday, Genting Singapore told the Singapore Exchange that it hopes to develop "a world-class IR destination that is strategically positioned, sustainable and anchored on strong local collaborations",

Genting Singapore added that, based on its “proportionate shareholding interest in the IR project, the company’s investment amount will be less than 100 percent of the market capitalisation of the company”.

"Having both solid financial strength and over 30 years of successful track record in developing tourism focused IRs, we are ideally positioned to deliver an iconic IR to transform and grow Yokohama City to become a major tourist destination. In turn, the City will be an in-bound tourism gateway to Japan and contribute towards Japan's tourism growth strategy," the company said.

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