Genting Singapore denies plans for IR in Japan
The company has clarified that it has no current plans for Japan.
Singapore.- Genting Singapore has clarified that, at least for now, it has no intention of developing an integrated resort in Japan. It addressed the question amid reports that the Japanese government is expected to finally approve proposals for a casino resort in Osaka.
The question was among several submitted by company shareholder in advance of its 38th Annual General Meeting to be held on Wednesday, April 19. The company replied: “As announced on 10 September 2021, the company had previously pursued a bid to develop an integrated resort in Yokohama City, but this was discontinued when Yokohama City decided to cancel the Yokohama City integrated resort bid process.
“The company is not currently pursuing a bid to develop an integrated resort project in Osaka or in Japan.”
Genting Singapore had entered into a partnership with Sega Sammy for its bid for an IR in Yokohama. It had estimated that the project would generate gross gaming revenue (GGR) of nearly US$7bn a year and US$2.7bn in net profit. The plans were cancelled after an anti-IR candidate won mayoral elections in Yokohama.
