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Galaxy Entertainment pulls out of Yokohama casino resort project

Macao-based operator blames coronavirus uncertainties

Visitors pose in front of a fountain at Galaxy's resort on the Chinese island of Macao. The casino and hotel operator has been exploring opportunities in Japan in recent years.   © Reuters

YOKOHAMA, Japan -- Galaxy Entertainment Group will not participate in developing a proposed casino resort in Yokohama, the Macao-based operator said Monday, citing the impact of the coronavirus on the business environment.

After careful consideration, Galaxy decided against taking part in the request for proposal process for an integrated resort in Yokohama, the company said. The RFP process ended Monday.

But Galaxy said it remained interested in operating such resorts in Japan.

Japan legalized the operation of casinos at integrated resorts -- large commercial complexes that include hotels and conference centers -- in 2018. Galaxy had been in talks with local Japanese authorities over the past few years regarding such opportunities, but also decided not to proceed in Osaka in February 2020.

Other casino operators are reevaluating their prospects in Japan as well. Las Vegas Sands in May 2020 said it will stop pursuing integrated resort development in the country. Wynn Resorts closed its office in Yokohama last year.

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