Genting confirms Yokohama partners, says investment less than $8b

Genting Singapore has confirmed its Japanese partners in its bid for an IR license in Yokohama and said the project doesn't need shareholder approval as its investment is less than 100 percent of the market capitalization of the company. The Singapore-listed operator has a current market value of SGD10.5 billion ($7.9 billion). It gave no further details of its stake in the consortium. Its partners are Sega Sammy, Sohgo Security Services, Kajima Corporation, Takenaka Corporation and Obayashi Corporation. Genting is competing against Macau's Melco Resorts & Entertainment and is seen as the front runner in the bid. Company filing