Sunday, June 26, 2022

Genting Singapore “diligently” preparing for Japan bid


Genting Singapore’s management is “diligently preparing” for an eventual bid for a license in Japan, though acknowledges it will be facing fierce competition for a limited number of permits.

The company is optimistic the Implementation Bill covering Japan’s casino regulation will be implemented in this year’s Diet session, paving the way for a formal bid, parent company Genting BhD said in its annual report.

Genting Singapore, which operates the Resorts World Sentosa IR in the island state, last October raised 20 billion yen through its first Samurai bond to support its activities in Japan, including establishing a branch office there and preparatory works.

Japan has confirmed that it will only be issuing three licenses in the first round of bidding, which industry experts say is likely to favor bids from big companies targeting the largest cities.

 

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