Lawrence Ho’s Melco bows out of Yokohama after new mayor shoots down integrated resort plan

Company remains ‘committed to exploring opportunities to develop the world’s best integrated resort in Japan’, Ho says

Japanese city’s new mayor, who was elected last month on an anti-casino platform, withdrew its bid to host a casino development last week

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An artist’s impression of Melco’s integrated resort in Yokohama. Photo: Handout

Published: 6:30am, 14 Sep 2021

Melco Resorts and Entertainment said on Monday that it was giving up its pursuit to build an integrated casino resort in Yokohama, Japan after its development plans were cancelled by the city’s newly-elected mayor.

Takeharu Yamanaka, who was elected last month on an anti-casino platform, withdrew the city’s bid to host a casino development last week, citing local concerns about gambling addiction and the impact on public safety.

“While we are disappointed, we are grateful for the friendships that we have formed throughout the process and express our sincere gratitude to the people and government of Yokohama,” said Lawrence Ho, Melco’s CEO. “We firmly believe in the country’s long-term potential and remain committed to exploring opportunities to develop the world’s best integrated resort in Japan.”

The so-called integrated resorts combine casinos with hotels and other facilities. Yokohama and other localities in Japan had been moving forward plans to formalise casino resort proposals, which the central government would then need to accept between October this year and April 2022.

Japan legalised casino gambling in 2016 to great excitement among industry players such as MGM Resorts International, which with its local partner, Orix, placed an initial investment of US$9.1 billion for an integrated resort project in Osaka in July.

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