Galaxy Entertainment decided not to join current RFP for Yokohama IR
The company said nonetheless that it “remains interested in pursuing an integrated resort license in Japan”.
Macau casino operator Galaxy Entertainment Group said in a press release it had decided to not participate in the “current” request-for-proposal process of Japanese metropolis Yokohama regarding the tilt at getting a casino resort.
Several other brands with Macau interests have either said they were not currently prioritizing an attempt at gaining a Japan casino license, or had for now withdrawn their interest.
Up to three resorts will be permitted under the legal framework for casino legalization in Japan.
Francis Lui Yiu Tung, vice chairman of Galaxy Entertainment, was quoted in Monday’s announcement as saying the decision factored the ongoing pandemic.
Mr Lui noted: “We greatly appreciate the opportunity to play an active role in Yokohama’s IR selection process but have decided to not participate at this time.”
He added: “We will continue our dialogue to support Japan in achieving its goal to develop a sustainable and world-class IR industry.”
The executive also mentioned that the group and a partner, Monte-Carlo Société des Bains de Mer from Monaco, a firm in which Galaxy Entertainment has an equity interest, had been “actively pursuing discussion” for several years with the Japanese national government and local communities “including Yokohama”.
Galaxy Entertainment is committed to expansion of its existing flagship Macau casino resort, Galaxy Macau.
In March, the company said it had signed an agreement with hospitality group Accor SA, to open an all-suite Raffles hotel at Galaxy Macau.
At the time, Galaxy Entertainment said the 450 suite hotel was planned to open in the second half of 2021.
Editing by Rachel Hu