The COVID-19 pandemic led the Tokyo 2020 Olympics to be postponed and held in 2021 without visitors and spectators. Given the economic shortfalls, this strudy examines whether the Olympics' collaborative governance effectively responded to the pandemic and generated public value. The public value identification draws on a difference-in-differences design between 2019 and 2022 that compares Tokyo residents' city government evaluations with those of other Japanese metropolitan residents (N = 6,876). It reveals the negative effects of the Olympics on Tokyo residents' evaluations of policy outputs and processes (p < .1) and their trust in the government (p < .05).