Genting Singapore Ltd. has formally entered the competition to secure a license for an integrated resort (IR) in Yokohama, aligning itself with some of the global gaming industry’s biggest players. The move was revealed in a new regulatory filing.
The announcement follows comments by Japan’s Minister of Land, Infrastructure, Transport and Tourism, Kazuyoshi Akaba, who confirmed that the national government will maintain its January–July 2021 deadline for cities to submit IR bids, despite COVID-19 disruptions.
According to the filing, Genting said it remains committed to Yokohama’s ongoing request-for-concept (RFC) process and will dedicate “efforts and resources to delivering a compelling proposal” that would position the city as a premier international tourism destination.
Policy Delay, Competition Intensifies
Yokohama lawmakers recently postponed the release of their policy framework for the IR process until August, when the city will officially begin its request-for-proposal (RFP) stage. That step will allow bids from interested operators.
Genting, operator of Resorts World Sentosa in Singapore, had previously expressed interest in Osaka but withdrew earlier this year. Its exit, along with that of Galaxy Entertainment, left MGM Resorts International as the sole contender in Osaka.
By shifting its focus to Yokohama, Genting now faces fierce competition from Las Vegas Sands, Melco Resorts & Entertainment, and Wynn Resorts. Analysts view LVS and MGM as frontrunners in Japan’s IR race, but Genting’s experience operating a world-class integrated resort in Singapore provides a key advantage. Only LVS shares a comparable track record.
High Stakes, High Costs
Tokyo, Yokohama, and Osaka are considered the leading candidates to host Japan’s first three IRs, though other regions remain in contention. Yokohama’s business community is pushing hard to secure the project despite ongoing public resistance.
Developing an IR in Japan comes with enormous costs. Genting shareholders have already approved a $10 billion budget for a potential project, but industry experts believe final costs could soar to $12–15 billion. Should Genting win a license, the company may need to raise additional funding to realize its vision.
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