Osaka is adamant about winning one of Japan's three integrated resort (IR) licenses to the central government.
The announcement in Osaka is less than 48 hours after anti-IR candidate Takeharu Yamanaka won the Mayor of Yokohama election.The next Mayor of Yokohama has promised to withdraw Japan's second largest city from IR competition.
Fumiko Hayashi, Mayor of Yokohama, was aiming for the fourth term.Mayor Fumiko Hayashi ran for the fourth term in favor of a multi-billion-yen commercial casino resort, but voters brilliantly denied the plan.
In his resignation speech, Mayor Hayashi acknowledged, "Since we announced our IR bid two years ago, we have been living in a storm of opposition." “During the election, many residents I spoke with were in favor of an IR.”
Hayashi added that COVID-19 prevented him from meeting with residents to understand their views on attracting casinos to the area.
Osaka still has a long way to go
Yokohama and Osaka are the second and third most populous cities in Japan, respectively.In Osaka, we believe that there is sufficient public support to promote IR.
大阪府の吉村洋文知事は記者会見で、「横浜市長選が大阪のIRに大きな影響を与えるとは考えていない」と述べた。Yoshimura is not convinced that the casino problem was a factor in Yamanaka's come-from-behind victory.Yoshimura did not believe that the casino problem was the reason for Professor Yamanaka's come-from-behind victory, but rather cited concerns about a pandemic.
Professor Yamanaka said, "This election may have been influenced by the coronavirus epidemic. COVID-19 is increasing rapidly in the metropolitan area, and Mr. Yamanaka, a coronavirus expert, has gained the trust of the residents. I think it was, "Yoshimura analyzes.
The IR development partner in Osaka is a consortium centered on MGM Resorts.Last month, MGM and Orix, a Japanese financial services group, announced a $ 91 billion IR plan.
Osaka's IR is located on Yumeshima, an artificial island of about 1,000 acres in Osaka Bay.Yumenoshima will be the venue for the 2025 World Expo.Yumeshima will be the venue for the Expo 2025 theme, “Designing Future Society for Our Lives.”
Downgrade of Genting
Genting Group, a global casino operator with IRs in the United States, United Kingdom, Singapore, Malaysia, Philippines and the Caribbean, was the front runner of choice in Yokohama.Melco Resorts was another bidder in Yokohama.
Sega Sammy Holdings of Japan, an amusement and entertainment company focusing on pachinko and games, participated in the Genting consortium.
Genting Group has been downgraded by Maybank Kim Eng, with Yokohama almost certain to be out of IR coverage.A Malaysia-based investment advisor has adjusted Genting's shares from 'buy' to 'hold'.
我々は、Genting-Sega Sammy合弁会社が横浜のIRライセンスを獲得するために最も強い立場にあったと考えているが、それは今ではすべて学術的なものである可能性が高い」と、メイバンクのノートは月曜日に読んだ。「横浜市長選挙が終わったので、Gentingを『ホールド』に格下げした」と述べている。But not all analysts hold the same view of Genting.Securities firm Nomura Securities maintains a 'buy' rating.In a statement, the company said the valuation is due to the expected recovery in tourism in Singapore and other markets where Genting operates.
Alongside Osaka, Nagasaki and Wakayama are also preparing for IR bids.Nagasaki is proceeding with casino development by Kashinos Austria.Wakayama has chosen Clairvest as its IR partner.Clairvest is a Toronto-based private equity firm that owns several casino and gaming industry businesses.
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