Yokohama city has provided a first glimpse into the design concepts of its two integrated resort candidates, Genting Singapore and Melco Resorts & Entertainment, with images and models on display this week at the city hall.
The exhibition will run until 7 August, with printed PR material and videos produced by the city to explain IRs, plus aerial photographs of the Yamashita Pier site, allowing visitors to get a better grasp of how the development might look.
The display includes detailed models of each design, although IAG understands neither design is final, representing a concept rather than any confirmed IR product.
Although Yokohama has not disclosed which concept belongs to which candidate, early design concepts released by Melco in 2019 make it clear which is which, with Melco showcasing a wave-style resort and Genting a more vertical, block concept.
Melco has not been officially declared as a candidate in Yokohama although they are well known to be one of the two companies in the running, with executives stating as much during this week’s 2Q21 earnings call.
“We’ve maintained our Yokohama First strategy,” said Melco President Evan Winkler when asked by analysts about the city’s upcoming mayoral election.
“That continues to be a focus of the company. In terms of the specifics … the incumbent mayor has come out and is running on a pro-IR platform. There are a variety of other candidates who have come out against IR.
“Some of these things are simply beyond our control and we’ll know more after the election takes place in Yokohama on August 22.”
Genting Singapore, which confirmed its candidacy last month, has announced Japanese pachinko firm Sega Sammy Holdings, security and disaster prevention specialist Sohgo Security Services Co Ltd (ALSOK) and construction giants Kajima Corporation, Takenaka Corporation and Obayashi Corporation as its Yokohama IR partners.
The city is looking to select an operator this summer. However, the outcome of the mayoral election is expected to greatly impact the project, meaning Yokohama’s IR future remains uncertain.