Galaxy Entertainment Group has confirmed its decision to withdraw from the Request for Proposal (RFP) Process in Osaka, stating its intention to focus on other locations in Japan instead, including Yokohama.
As previously reported by Inside Asian Gaming, Osaka officials revealed on Friday that US casino operator MGM Resorts and its local partner Orix were the only consortium to apply to participate in the city’s RFP process, with both Galaxy and Genting Singapore – the two other companies believed to be preparing a bid – opting out instead.
Galaxy confirmed that decision on Monday, with Vice Chairman Francis Lui stating, “We have greatly appreciated being able to play an active role in the RFC stage and enjoyed the in-depth discussion this afforded us – in particular, being given the opportunity to listen, learn and share our vision for how this new industry could benefit the city of Osaka, the business community, its citizens and the wider economy of Japan.
“However, after deep reflection, we decided at this time that our focus should be on other potential locations in Japan, including among others, Yokohama.
“We informed the Osaka City Integrated Resort Promotion Bureau of this decision well ahead of the 14 February deadline for application to participate in the RFP and the City were understanding and appreciative of the efforts we made in assisting them with the process to date.”
Lui noted that Galaxy and its partner Monte-Carlo Société des Bains de Mer had recently completed a comprehensive Request for Concept (RFC) submission and business feasibility study in Osaka before opting to withdraw.
However, he reiterated that the company remains “fully committed to Japan, to assist the Government to achieve their tourism and economic goals and we believe GEG’s healthy balance sheet and track record in developing and operating the world’s most successful IR, combined with SBM’s 150-year track record in creating the world’s first IR destination at Monte-Carlo, can make that a reality.
“We wish Osaka well as it continues on its path and we look forward to continuing in our bid for a license in Japan.”