Genting Singapore Ltd. has formally joined a group of major global operators seeking a license to develop an integrated resort in Yokohama, according to a new regulatory filing.
The company’s move comes just a day after Japan’s Minister of Land, Infrastructure, Transport and Tourism, Kazuyoshi Akaba, reaffirmed that the government will stick to its January–July 2021 window for cities to submit casino bids, despite disruptions caused by the COVID-19 pandemic.
“Genting continues to be engaged in Yokohama’s request for concept (RFC) process and will direct efforts and resources toward delivering a compelling proposal that positions Yokohama as a premier tourism destination,” the filing stated.
Local lawmakers this week said the city will delay publishing its integrated resort policy framework until August, coinciding with the start of the request for proposal (RFP) stage, when operator submissions will be formally considered.
High-Stakes Competition
Genting, operator of Singapore’s Resorts World Sentosa, had previously explored a project in Osaka but exited that race earlier this year—alongside Galaxy Entertainment—leaving MGM Resorts International as the sole Osaka bidder.
By pivoting to Yokohama, Genting will now face stiff competition from Las Vegas Sands, Melco Resorts & Entertainment, and Wynn Resorts. Analysts continue to rank LVS and MGM as frontrunners in Japan’s bidding process, but Genting holds one advantage: experience managing a world-class integrated resort in Singapore, a model Japan is keen to replicate. Among rivals, only LVS shares that distinction.
Massive Investment Ahead
Tokyo, Yokohama, and Osaka remain the top contenders to host Japan’s first three casinos, though other regions are lobbying as well. In Yokohama, business leaders strongly support a casino project despite vocal local opposition.
Developing an integrated resort in Japan won’t come cheap. Earlier this year, Genting shareholders approved a $10 billion budget for a potential project, but industry analysts believe final costs could climb as high as $12 billion to $15 billion. That means Genting may need to raise additional capital if it secures one of Japan’s coveted licenses.
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