Japanese entertainment giant Sega Sammy Holdings Inc. has confirmed it will stop getting involved in an attempt to develop a casino resort in the city of Yokohama. The announcement came after the city’s newly elected mayor confirmed on Friday that he would abandon plans to host an integrated resort.
Takeharu Yamanaka, the mayor of the semi-casino, said on the same day that Yokohama City (photo) will be abolished from October 1, an office specially designated for the casino business.
“We had to stop participating in the Yokohama IR business,” Sega Sammy said in a Friday announcement
“The impact of this case on consolidated operating performance for the fiscal year ending March 31, 2022 will be minimal,” it added
The Japanese company previously said it planned to spend “about 120 billion yen ($1.09 billion)” on casino resort expenses in Yokohama as part of a consortium including Genting Singapore.
On Friday, Genting Singapore said it had put its efforts to develop a casino complex in Yokohama on hold. The company, previously identified as one of two eligible bidders during Singapore’s request for an IR offer, said it was “surprised and disappointed by the unexpected turnaround in the situation that decided to cancel the IR bid.”
In addition to Genting Singapore, Melco Resorts and Entertainment Ltd., which operates venues in Macau and the Philippines, have been identified as other contenders in the race.
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