Genting Singapore has received overwhelming approval from its shareholders to spend up to $10 billion for an IR bid in Japan.
The vote was taken during an extraordinary general meeting on February 4, called by the board of directors.
“The Japan IR project offers the group an opportunity to leverage its core expertise in the development, operation, ownership, and management of IR destinations, to achieve geographical diversification and sustain its growth trajectory in the longer term,” said Genting Singapore in a written notice sent to shareholders when announcing the EGM.
Genting reiterated during the meeting that funding will come from existing cash, borrowings, and local partners, rather than tapping into existing shareholders to fund the project.
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