Wynn Resorts has become the latest company to reject the opportunity to invest in building a casino resort in the Osaka region of Japan, instead stressing that it is currently focused on the Kanto market.
As the third company to withdraw interest in Osaka, Wynn’s focus change follows Las Vegas Sands and Melco Resorts and Entertainment as they venture out of the city.
Nevertheless, MGM Resorts International has moved to stress that it is “deeply committed” to pursue an integrated resort interest in the area, with the company being considered the front runner in a partnership alongside its Japanese partner Orix.
Wynn, based in Las Vegas, removed his interest in Osaka this week, stressing in a statement: “Wynn Resorts is grateful for the many months of positive dialogue we have enjoyed with the City of Osaka and its residents, and we appreciate the generous hospitality we have received from them.
“Although we have decided not to pursue an integrated city resort in Osaka at this time, we wish the city the very best and look forward to following its continued success. Wynn Resorts is currently focused on the Kanto area.”
The Kanto zone is an area of Honshu, Japan’s largest island, encapsulating Chiba, Gunma, Ibaraki, Kanagawa, Saitama, Tochigi, and Tokyo.
In addition, the area also includes Tokyo and Yokohama towns, both of which have been heavily involved in the IR talks so far.
Las Vegas Sands has scrapped its previous plans to pursue an integrated resort within Osaka earlier this year, as the company has clarified that its future vision is based on development opportunities in both Tokyo and Yokohama, located just over 30 minutes away.
The surprising announcement came after several concerted steps had been taken by the company to gain a favorable position on its previous Osaka ambitions, following a number of comments discussing the port city as an IR destination.