{"id":173820,"date":"2021-05-17T09:32:12","date_gmt":"2021-05-17T16:32:12","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=173820"},"modified":"2021-06-30T10:00:29","modified_gmt":"2021-06-30T17:00:29","slug":"galaxy-entertainment-is-leaving-yokohama-casino-race","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/","title":{"rendered":"Galaxy Entertainment Withdraws from Yokohama Casino Competition"},"content":{"rendered":"

Yokohama’s ambitions of being one of the first three Japanese cities to host an integrated resort suffered another blow Monday when Galaxy Entertainment Group said it’s pulling out of the competition.<\/p>\n

\"Galaxy
Francis Lui, deputy chairman of Galaxy Entertainment, seen above. His company is withdrawing from Yokohama. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

That’s more a commentary on the city than the country because the Chinese gaming company insists it’s still interested in Japan, though it didn’t specify a city or region it’s eyeing in the wake of its Yokohama departure.<\/p>\n

We greatly appreciate the opportunity to play an active role in Yokohama\u2019s IR selection process, but have decided to not participate at this time,\u201d<\/strong> said the Hong Kong-listed company in a statement.<\/p><\/blockquote>\n

Galaxy’s decision to withdraw from the Yokohama fray comes just days after Suncity scrapped plans<\/a> to pursue an integrated resort in Wakayama Prefecture. That region also remains part of the broader race to procure a Japanese gaming license.<\/p>\n

Pressure Mounts on Yokohama<\/h2>\n

In February, Yokohama officials said one unidentified operator<\/a> already met early requirements to advance in the gaming property bidding process there. They hope to select a winning partner with which to bid for a casino<\/a> license this summer.<\/p>\n

\n

Still, the loss of Galaxy from the competition is a reminder that operators are losing affinity for Japan’s second-largest city. A year ago, Las Vegas Sands abandoned its Japan ambitions<\/a>, which centered around Yokohama. The late Sheldon Adelson said the framework governing Japan’s integrated resort process made the gaming company’s goals in the country \u201cunreachable.\u201d<\/p>\n<\/div>\n

That was the start of rough operator-level news for Yokohama. In February, Wynn Resorts withdrew<\/a> from the city’s request for proposal (RFP) process after shuttering its office there last August.<\/p>\n

The departures of Galaxy, Las Vegas Sands, and Wynn from the Yokohama race could hurt the city’s chances of claiming a gaming license. Japanese policymakers want companies with experience running high-end integrated resorts in the Asia-Pacific region. Combined, that trio of operators run 10 gaming properties in Macau.<\/p>\n

Who’s Left in Yokohama<\/h2>\n

Among the well-known gaming firms that previously declared interest in Yokohama that appear to still be in the mix are Genting Singapore and Melco Resorts & Entertainment. However, Genting is no sure bet to continue that pursuit.<\/p>\n

\u201cAs part of the group\u2019s geographical diversification strategy, the group is keenly exploring the Yokohama integrated resort opportunity in Japan,\u201d according to a regulatory filing issued by the company last November<\/a>. \u201cWe will evaluate the conditions for the Request-for-Proposal (RFP) and the investment environment when the formal bidding process begins and will respond with a proposal if these conditions meet the Group\u2019s investment criteria.\u201d<\/p>\n

For its part, Melco recently reaffirmed its interest in Japan<\/a>\u00a0but also signaled it’s not married to Yokohama, either.<\/p>\n","protected":false},"excerpt":{"rendered":"

Yokohama’s ambitions of being one of the first three Japanese cities to host an integrated resort suffered another blow Monday when Galaxy Entertainment Group said it’s pulling out of the competition. That’s more a commentary on the city than the country because the Chinese gaming company insists it’s still interested in Japan, though it didn’t […]<\/p>\n","protected":false},"author":46,"featured_media":173822,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\nGalaxy Entertainment Is Leaving Yokohama Casino Race<\/title>\n<meta name=\"description\" content=\"Galaxy Entertainment is out of Yokohama integrated resort competition, but it's still interested in Japan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Galaxy Entertainment Is Leaving Yokohama Casino Race\" \/>\n<meta property=\"og:description\" content=\"Galaxy Entertainment is out of Yokohama integrated resort competition, but it's still interested in Japan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-17T16:32:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-30T17:00:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/Lui-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/\",\"url\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/\",\"name\":\"Galaxy Entertainment Is Leaving Yokohama Casino Race\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/Lui-scaled.jpg\",\"datePublished\":\"2021-05-17T16:32:12+00:00\",\"dateModified\":\"2021-06-30T17:00:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Galaxy Entertainment is out of Yokohama integrated resort competition, but it's still interested in Japan.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/galaxy-entertainment-is-leaving-yokohama-casino-race\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/Lui-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/Lui-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Francis Lui, deputy chairman of Galaxy Entertainment. His company is withdrawing from Yokohama. 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His company is withdrawing from Yokohama. 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