The second-largest city in Japan according to its population, Yokohama is fully set to host a grandeur event that will take place later this week. This event has been carefully designed to give all interested parties all of the necessary information which they could need to help the city secure one of a trio of Japanese coming fully integrated casino resort licenses.

According to one report released by Inside Asian Gaming, this is the very first Japan IR Expo and it is scheduled to kick off in just several days from the luxurious, 287,960 square feet Pacifico Yokohama center. As reported, the event will feature a massive assortment of seminars and exhibitions available to everyone who is looking forward to entering the growing Japanese casino gaming and entertainment market.

The Two-Day Extravaganza by the Integrated Resort Yokohama Promotion Council

As reported by the Inside Asian Gaming news outlet, the two-day event is organized by the nation’s Integrated Resort Yokohama Promotion Council alongside a local trade who specialist, the Innovent Incorporated company. The event’s organizers expect to welcome around 10,000 guests that will be offered an impressive catalog of product display and networking opportunities.

Commenting on the news, Innovent Incorporated officials shared their thoughts in one of the company’s official statements. The statement reads that the impressive immersion of the nation’s fully integrated resort market is becoming a reality which leads to a significantly higher demand for different trade fairs in the entire nation’s business community. The company’s officials also said that they will be holding this expo in Yokohama with all of the services and products included which are essential to achieving a luxurious integrated resort and additional accommodations under one roof.

Representatives of Numerous Casino Operators Due to Attend the Event

It was also reported that representatives from many international casino operators including the biggest brands such as Wynn Resorts Limited, Genting Malaysia Berhad and Las Vegas Sands Corporation are also due to attend the Yokohama IR Expo event alongside several local technology brands such as Mitsubishi Electric Corporation, Fujitsu Limited, and Panasonic Corporation.

Even though the majority of gambling activities are illegal in the country, the collation of Shinzo Abe as the government Prime Minister will see this nation of around 126 million citizens become home to a trio of Las Vegas-styled fully integrated casino resorts. This legislation was passed back in July of 2018 and it allows a trio of fully integrated casino resorts to feature hotels, comprehensive gaming floors as well as several exhibition facilities.

This process is expected to be completed by the end of 2020 and the city of Yokohama is hoping to be selected and win the right to construct and operate such a venue which is planned for a one hundred and sixty-acre parcel of land located very near to Yamashita Park.

Nonetheless, the city of Yokohama which is the most populous Japan municipality is facing serious competition from several other communities which are also interested in bringing fully integrated casino resorts into their communities including Sasebo and Osaka. As reported, Sasebo and Osaka are also looking forward to the upcoming Yokohama IR Expo as the communities’ officials want to provide some additional insights into their plans and potentially engender bigger international and local backing to boost their efforts.

Just one day after Paradise-based Las Vegas Sands Corporation revealed publicly that the company is abandoning its plan to build and operate a luxurious casino resort in Osaka, the company’s biggest American rival and competition MGM Resorts International revealed that it stays committed to the city of Osaka. In fact, the company’s boss Jim Murren stated in his official press release that the MGM Resorts International remains committed to pursuing a fully integrated casino resort in Osaka.

This official revelation was immediately followed by the Las Vegas Sands Corporation’s official press release in which the company’s officials reveal that it will concentrate on the city of Yokohama instead of its initial plans which included managing a casino resort in Osaka. This news came shortly after it was revealed that Japan will be granting a trio of casino licenses for development projects in several cities including Yokohama and Osaka.

At the same time, the MGM Resorts International’s officials have already announced their Osaka First business strategy and they do not plan on wavering from that business plan. Mr. Murren also stated that he and his coworkers have had confidence in the company’s position in Japan. He also believes that MGM Resorts International can bring something to Osaka that only his company can successfully deliver.

Yokohama Joining the Race to Secure its Casino License

The city of Yokohoma has just recently announced that it will be finally lodging a public bid in order to secure one of the three gaming licenses which are currently being made after the country ratified last year’s proposed, Integrated Resort Implementation Bill. The city of Yokohama has more than 3.7 million residents while its close proximity to the country’s capital makes its one of the most attractive candidates to host a fully integrated entertainment and casino resort.

In fact, the city of Yokohama has an advantage over other runners including Chiba City, Osaka, and Sasebo. It was also revealed that the city’s officials were reluctant at the beginning to bid for one of the three gaming licenses owing to their concerns related to criminal activities and gambling addiction. However, the city’s Major Mr. Hayashi in an official press release said that such a facility will actually enable the city of Yokohama to attract both more foreign investment and more tourists.

One of the leading casino operators and the biggest MGM Resorts International rival, Las Vegas Sands Corporation reacted immediately after this revelation by saying that it has abandoned its plans to build in Osaka in favor of managing a casino resort in Yokohama. The company’s CEO used another statement to share more detail. In this statement, his proclaimed that investing in Yokohama or Tokyo gives his company the best business opportunity. He also added that his company is currently seeking business partners to help them with bringing a casino resort to the capital city of the Kanagawa Prefecture.

Several American Companies Interested in Bringing Casino Resorts to Japan

Alongside Las Vegas Sands Corporation, several other American casino giants such as Caesars Entertainment Corporation, and Wynn Resorts Limited are currently eyeing on the possibility of opening a casino resort in Japan. While MGM Resorts International stays focused on Osaka, these casino behemoths are more focused on Yokohama.

All in all, MGM Resorts International has grandiose plans for its Osaka casino resort. The company’s officials revealed that they will submit their official proposal in days to come in hopes of attracting some local allies.