Yokohama City has made its interest in an IR bid official.
The candidate location is Yamashita Wharf, covering 47 hectares in Naka Ward and positioned near the Yamashita Park tourist spot, with plans to open an IR by the late 2020s.
Yokohama mayor Fumiko Hayashi stated at a press conference on Thursday that, “Yokohama’s future is in crisis,” listing the potential contribution to the city’s finances and additional tourism as reasons for an IR bid. Overseas IR operators were unified in welcoming the news.
The city is estimating an economic ripple effect of JPY630 billion to JPY1 trillion annually from an IR. Even with direct municipal income alone, an estimated JPY82 billion to JPY120 billion is expected from corporate tax, property tax and entrance fees.
Citizens remain concerned regarding the area surrounding the casino becoming dangerous and over the spread of problem gambling. Mayor Hayashi responded to these concerns, stating, “I have many concerns myself. I firmly believe that if strict regulations of the highest standard are in place, then it will be fine.”
The mayor added that she plans to personally hold briefings for residents in all city wards.
“As long as we continue to explain thoroughly, I believe the citizens will understand,” she said.