Galaxy Entertainment Withdraws from Yokohama IR Project

Economy

London, May 17 (Jiji Press)--Galaxy Entertainment Group Ltd., which operates casinos in Macau, said Monday that it has dropped a plan to be part of the initiative to set up a casino-featuring integrated resort in the city of Yokohama, south of Tokyo.

The company, based in Hong Kong, will seek to apply for an IR project in another Japanese city, it said, while giving no explanation on the reason for its withdrawal from the Yokohama IR project.

Galaxy Entertainment Group Deputy Chairman Francis Lui said in a statement that his company decided not to join the Yokohama project after careful consideration.

Galaxy Entertainment Group will continue dialogue to achieve a goal of creating a sustainable, world-class IR in Japan, he added.

The company aims to enter the IR business in Japan jointly with Monte-Carlo Societe des Bains de Mer, which operates casinos in Monaco.

[Copyright The Jiji Press, Ltd.]

Jiji Press