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For the first time since the IR legislation was passed into law, Japan has a new prime minister. Fortunately for Japan’s pro-IR community, it is Yoshihide Suga.
The Yokohama municipal government has launched its RFC process for private businesses interested in developing Yamashita Pier into a major urban IR.
Yokohama Mayor Fumiko Hayashi's announcement that her government would make an IR bid reshaped the licensing race in a way that few other events have done.
The second-largest caucus in the Yokohama City Council, called Constitutional Democratic Party of Japan and Citizens’ Forum, has already decided to oppose Mayor Fumiko Hayashi’s desire to launch an IR bid at Yamashita Pier, and will submit a bill to strip all IR-related expenses from the mayor’s proposed city budget.
The municipal government told reporters on Monday that Yokohama’s long period of indecision had ended and that Mayor Fumiko Hayashi would announce later in the week that her city would seek to host a major urban IR at the 47-hectare Yamashita Pier location.
The Yokohama city government released on Monday a more detailed summary of the results of the RFI process carried out last summer, revealing that the investment amounts proposed by the operators for an IR at the Yamashita Pier location ranged from JPY620 billion (about $5.6 billion) to JPY1.3 trillion (about $11.8 billion).
In spite of the widespread view that the terms of the IR Implementation Bill are shaping up to be more favorable to major urban...
Most gaming industry analysis currently predicts that the city of Yokohama may very well become the host for Japan’s largest IR in the mid-2020s. Situated in Kanagawa Prefecture as part of Japan’s capital region—with its vast population of tens of millions—almost any major IR operator would love to have a piece of this action; but even should Japan’s IR Implementation Bill pass smoothly through the national legislature, it remains far from clear that Yokohama will actually decide to seek a license. The region's residents go to the polls on Sunday to choose a new mayor, with two candidates opposing the incumbent on an anti-casino platform.