The IR is set for Osaka’s “Dream Island,” a nearly 1,000-acre, man-made patch of land in Osaka Bay. Dream Island — Yumeshima in Japanese — is set to host Expo 2025. The world fair’s theme is “Designing Future Society for Our Lives.”<\/p>\n
Genting Group, a global casino operator with IRs in the United States, United Kingdom, Singapore, Malaysia, Philippines, and the Caribbean, was the front-runner to be selected in Yokohama. Melco Resorts was the city’s other qualifying bidder.<\/p>\n
Genting’s consortium included Japanese-based Sega Sammy Holdings, an amusement and entertainment company focused on pachinko and video games.<\/p>\n
With Yokohama almost certainly out of the IR pool, Genting Group has been downgraded by Maybank Kim Eng. The Malaysia-based investment advisory firm adjusted Genting stock from a “buy” to a “hold” rating.<\/p>\n
\nThough we still opine that the Genting-Sega Sammy joint venture was in the strongest position to win a Yokohama IR license, it is likely all academic now,\u201d the Maybank note read Monday. “With the Yokohama mayoral election having come and gone, we downgrade Genting to ‘hold.'”<\/p>\n<\/blockquote>\n
Not all analysts, however, are on the same page regarding Genting. A note from brokerage Nomura maintained its “buy” rating. The firm said in its explanation that a forecast tourism recovery in Singapore and in other markets where Genting operates was the reason for its rating.<\/p>\n
Along with Osaka, Nagasaki and Wakayama are prepping IR bids. Nagasaki is running with a casino development from Casinos Austria. Wakayama has picked Clairvest as its IR partner. Clairvest is a Toronto-based private equity firm that owns several casinos and gaming industry businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"
Osaka remains steadfast in its commitment to bid Japan’s central government for one of the country’s three integrated resort (IR) licenses. Osaka’s announcement comes less than 48 hours after anti-IR candidate Dr. Takeharu Yamanaka won Yokohama’s mayoral election. Yokohama’s mayor-elect has pledged to withdrawal Japan’s second-largest city from the IR race. Yokohama Mayor Fumiko Hayashi […]<\/p>\n","protected":false},"author":25,"featured_media":183856,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069],"tags":[],"acf":[],"yoast_head":"\n
Osaka Casino Candidacy Endures Despite Yokohama IR Fallout<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n