Wynn Resorts Rules Out Yokohama Despite Interest In Japan Market
Wynn Resorts has suffered significant losses during 2020 due to the COVID-19 pandemic. The Las Vegas based casino operator which has a strong presence in Las Vegas and Macau saw revenues plummet due to the coronavirus shutdown.
Those losses are not going to deter Wynn Resorts from pursuing its earlier plans of obtaining an integrated resort (IR) casino license in Japan. Wynn Resorts reiterated this week that it plans on obtaining one of three IR licenses in Japan but did not specify which location it would interested in developing a casino.
While Wynn Resorts did not specify which location it will be interested in, it did specify which location it will not be interested in. Yokohama is one of the major cities in Japan that is keen on getting approval to host one of the three licensed IR casinos.
Yokohama recently launched its Request For Proposal (RFP) which invited interested casino operators to submit an application if they were interested in developing an IR casino in the city. Wynn Resorts had expressed interest in Yokohama in the past but decided not to send in an RFP.
Yokohama opened two timelines for interested parties to submit an RFP. The first timeline runs from Feb to May 2021 and the final timeline runs from June 1 to June 11, 2021. Yokohama will be required to review and shortlist private sector applications and then finalize on one before submitting its proposal to the central government to earn the right to host one of the three IR casinos.
Nagasaki which is a much smaller city also launched an RFP in Jan 2021 and interested parties including U.S tribal gaming operator Mohegan Sun put in an application. Given the fact that Wynn has not applied for Yokohama or Nagasaki, one can assume that it has its sights on either Osaka or Tokyo.
Will Wynn Apply For Osaka or Tokyo?
Wynn Resorts CEO Matt Maddox did not disclose much and only said that Wynn Resorts is interested in Japan but is not interested in throwing its hat into the ring as of now as the rules and regulations concerning the casino industry was still not clear.
The big question is whether Wynn Resorts has given up on Yokohama or is waiting patiently for the June 1 to June 11 period to submit a proposal. Alternatively, is Wynn Resorts focused on Tokyo or Osaka for its IR casino. We will have to wait for a few more months to see what Wynn Resorts has planned for Japan.
David is our resident 'down under' contributor, letting us know what is going on in the southern hemisphere, he is also keen blackjack player