Since its Parliament passed the Integrated Resort Promotion Law in December 2016, Japan continues to be one of the most significant expansion opportunities in the history of the international gaming industry. While the Ministry of Land, Infrastructure and Tourism look to issue guidelines early next year, Yokohama has thrown its hat into the ring to host a new Integrated resort.
Yokohama mayor, Fumiko Hayashi revealed at a recent press conference that she believes Yokohama's future is in crisis and desperate need of a new Integrated Resort (IR). The official bid for the IR places it at Yamashita Wharf, near to the Yamashita Park tourist area with plans to open by the close of the late 2020s. The project is to use 47 hectares in Naka Ward for the IR with Mayor Hayashi estimating an economic benefit to the tune of between JPY630 billion (approx. USD 5.2 billion) to JPY1 trillion (approx. USD 9.38 billion).
Citizens in the area expressed concerns about the impact that the casino might have, but Mayor Hayashi listed many new revenue streams to the city's finances and was keen to point out the increase of tourism and she plans to personally hold briefings to keep residents informed at each stage. “As long as we continue to explain thoroughly, I believe the citizens will understand,” she said.
With direct income from corporate tax, property tax and entrance fees alone will generate an estimated JPY83 billion to JPY120 billion it looks like every effort will be made to see the bid through to fruition which is fantastic news for the region.
Thanks to Dragon co-founder Paul Moynan’s vision and impressive network, Dragon has forged powerful relationships throughout Japan for both Gaming and Entertainment. Dragon is expecting substantial growth, especially after entering Coin Market Cap just outside of the top 100 following Dragon Coin, the world's number one entertainment coin after listed on the tracking site.