Urban Development Bureau in Yokohama Gets IR Promotion Office to Handle Necessary Procedures

The City of Yokohama officially set up an IR Promotion Office in the Urban Development Bureau to organize and manage the necessary protocol for the Integrated Resorts bid. The office opened its doors from 1 November 2019.

The state’s Policy Bureau team in charge of the accompanying IR-related procedures. Under Hideo Amagai, the team will now be relocated to the Urban Development Bureau and increased to 25.

Establishing Policy and Measures

So far, the IR Promotion Council was launched by eight groups, including The Yokohama Chamber of Commerce & Industry and the Kanagawa-ken Employer’s Association.

In addition to this…

…the 1st Japan IR Expo in Yokohama will be held at Pacifico Yokohama in January. As a lead-up to the event, the Yokohama IR Expo Briefing takes place on 7 November.

At the regular assembly held on 30 October, Mayor Fumiko Hayashi emphasized:

“We will proceed with considerations for a specific IR implementation policy and problem gaming countermeasures and treatments. We must provide accurate information to our citizens.”

As a Small Reminder

Yokohama also held its RFC from private enterprises from 16 to 30 October, receiving a response from multiple corporations. On 21 October, the city announced its policy to hold IR Resident Briefings in all 18 wards in the city to promote a better understanding of the gigantic project.

Las Vegas Sands’ Plans for IRs

Despite putting efforts actively as one of the interested sides for Osaka bid, LVS decided to abandon the negotiations and shift focus to other locations, Tokyo and Yokohama.

The final outcome saw Yokohama as the selected location for the project….

…which was confirmed with the announcement about the noteworthy investment. The substantial amount which the renowned developer and operator of world-class Integrated Resorts will use for the purpose will be around US$10–12 billion.

Robert Goldstein, President and Chief Operating Officer of Las Vegas Sands pointed out that Yokohama ended up as the company’s ultimate choice because it was “just a better fit for (our) skillset.”

Relevant Institutions in Japan (to Be) Established

An important announcement came from the government of Japan…

… stating that the beginning of 2020 will see a brand-new gambling regulatory body instated. This institution will be in charge of overseeing the land-based casino industry in the country.

Month-long public consultations (September 3- October 3, 2019) were held aiming to find solutions for the regulation of IRs. The main goal of the debate, launched by the country’s Ministry of Land, Infrastructure, Transport, and Tourism, was issuing licenses for three integrated resorts, with plans for opening in the next 4-5 years.

Source:

“Yokohama to Set Up IR Promotion Office”, Niji Narayan, europeangaming.eu, November 6, 2019.