{"id":22637,"date":"2021-09-15T10:42:55","date_gmt":"2021-09-15T13:42:55","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22637"},"modified":"2026-04-23T15:40:43","modified_gmt":"2026-04-23T18:40:43","slug":"yokohamas-ir-withdrawal-could-negatively-impact-genting-singapore","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/yokohamas-ir-withdrawal-could-negatively-impact-genting-singapore","title":{"rendered":"Yokohama&#8217;s IR withdrawal could negatively impact Genting Singapore"},"content":{"rendered":"\n<p>Morgan Stanley Asia thinks Genting Singapore could have been negatively impacted by Yokohama\u2019s decision not to move ahead with the development of an integrated resort.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Japan.-\u00a0<strong>Morgan Stanley Asia <\/strong>has reported that\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/yokohama-anti-ir-candidate-wins-mayoral-elections\">Yokohama&#8217;s decision<\/a>\u00a0to withdraw its integrated resort plans and disband the IR promotion office could have\u00a0<strong>negatively affected Genting Singapore Ltd<\/strong>, one of the competitors for the city&#8217;s bid.<\/p>\n\n\n\n<p>Genting Singapore had entered into a partnership with\u00a0<strong>Sega Sammy<\/strong>\u00a0to join its bid to build a planned IR development that was expected to <strong>generate gross gaming revenue (GGR)<\/strong>\u00a0of nearly US$7bn a year and\u00a0<strong>US$2.7bn in net profit<\/strong>.<\/p>\n\n\n\n<p>The cancellation of the IR plans could have reduced Genting Singapore&#8217;s present net worth to SGD0.13 (US$0.10) per share. <strong>Genting Singapore has cash stores of SGD3bn<\/strong>, but analysts note extra monetary commitments.<\/p>\n\n\n\n<p>Genting Singapore currently operates the\u00a0<strong>Resorts World Sentosa casino complex in Singapore<\/strong>. In 2019, the company guaranteed it would contribute nearly SGD4.5bn to the\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-pushes-back-resorts-world-sentosa-expansion-plan\">extension of the property<\/a>.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Melco to continue exploring IR opportunities in Japan<\/h2>\n\n\n\n<p>The other Yokohama contender,<strong>\u00a0Melco Resorts and Entertainment could have been benefited from Yokohama&#8217;s decision <\/strong>in terms of capital expenditure savings as analysts revealed the company had US$4.8bn net debt at the end of June.<\/p>\n\n\n\n<p><strong>Lawrence Ho Yau Lung<\/strong>, Melco Resorts and Entertainment Ltd CEO, has confirmed\u00a0the company will close its Yokohama office but will maintain a representative office in Tokyo.<\/p>\n\n\n\n<p>He said: \u201cMelco has been working on the ground in Japan for over a decade.\u00a0<strong>We firmly believe in the country\u2019s long-term potential and remain committed to exploring opportunities<\/strong>\u00a0to develop the world\u2019s best-integrated resort in Japan.\u201d<\/p>\n\n\n\n<p>He added: \u201cWhile we are disappointed, we are grateful for the friendships that<strong>&nbsp;we have formed throughout the process and express our sincere gratitude to the people&nbsp;<\/strong>and government of Yokohama, as well as our business and community partners, for their tremendous support.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Stanley Asia thinks Genting Singapore could have been negatively impacted by Yokohama\u2019s decision not to move ahead with the development of an integrated resort.<\/p>\n","protected":false},"author":176,"featured_media":18283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Yokohama's decision to abandon its integrated resort development plans has negatively impacted Genting Singapore, a key contender in partnership with Sega Sammy, potentially reducing its net worth. Conversely, Melco Resorts and Entertainment, another bidder, may benefit from capital expenditure savings given its existing net debt, though it remains committed to future IR opportunities in Japan.","focusai_entities":"Morgan Stanley Asia, Genting Singapore Ltd, Sega Sammy, Melco Resorts and Entertainment, Lawrence Ho Yau Lung, Resorts World Sentosa","focusai_location":"Yokohama, Japan, Singapore, Tokyo","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting's Capital Reallocation?","query":"How might Genting Singapore reallocate the capital originally earmarked for the Yokohama IR, particularly considering its existing commitments to Resorts World Sentosa's extension and its broader regional growth strategy?"},{"label":"Melco's Japan Strategy?","query":"What specific alternative IR opportunities in Japan is Melco Resorts and Entertainment likely to pursue, and how will their existing net debt influence these new strategic investments and capital deployment decisions?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23687,23632],"class_list":["post-22637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-genting-singapore","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22637"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22637\/revisions"}],"predecessor-version":[{"id":22657,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22637\/revisions\/22657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18283"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}