Galaxy Entertainment Group opts out of Yokohama IR bid

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Galaxy Entertainment Group has announced its decision to withdraw from Yokohamas IR operator selection process.

In a statement issued late Monday, GEG Vice Chairman Francis Lui said, Galaxy Entertainment Group, along with our partners from Monte-Carlo Socit des Bains de Mer (SBM) from the Principality of Monaco, have been actively pursuing discussion for several years with the Japan Government and local communities including Yokohama. The world and business climate continues to evolve which has been exacerbated by the COVID-19 pandemic.

We are honored to have learned a tremendous amount about the people, culture and ambitions of Yokohama and highly value the relationships that we have developed with the government, business associations and local community including Kanagawa over the past few years.

We greatly appreciate the opportunity to play an active role in Yokohamas IR selection process but have decided to not participate at this time. We will continue our dialogue to support Japan in achieving its goal to develop a sustainable and world class IR industry.

The company isnt withdrawing from Japan altogether however, reiterating its interest in pursuing an integrated resort license in Japan.

GEGs decision not to follow through in Yokohama comes after both Las Vegas Sands and Wynn Resorts announced their withdrawal from Yokohamas RFP last year.

It also comes less than a week since Suncity Group revealed it was withdrawing from Wakayamas RFP.