Wynn shuts Yokohama office as Japan IR plans delayed
Wynn Resorts has closed its office in Yokohama as Japan’s plans to offer casino licenses face further delays.
Last month, Yokahama’s city council was expected to meet to assess the city’s integrated resort (IR) implementation policy draft.
However, due to the lack of a ‘basic policy’ laid out by the Japanese government, this meeting was unable to go ahead. Yokahama’s council has instead decided to wait for the Japanese government’s basic framework before any discussions are to take place.
Wynn has been looking to enter the Japanese casino market for years, but due to licensing delays and the impact of the COVID-19 pandemic on its business, the operator has decided to put a halt to its plans for now.
A statement from Wynn read: “The pandemic is having an unprecedented negative impact on integrated resort development, and resort companies such as Wynn are considering how we evolve our operations to align with a post-pandemic market.
“Long term, we remain interested in the Japan integrated resort market and will monitor the situation closely.”
Caesars Entertainment pulled out of the race for a Japanese IR last year after deciding to focus on its US-facing business. In May, Las Vegas Sands became the next operator to rule out Japan because of high tax rates and building expenses.
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