{"id":34761,"date":"2022-10-25T07:40:26","date_gmt":"2022-10-25T10:40:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34761"},"modified":"2026-04-23T03:37:26","modified_gmt":"2026-04-23T06:37:26","slug":"genting-singapore-fully-redeems-japanese-yen-denominated-bonds","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-fully-redeems-japanese-yen-denominated-bonds","title":{"rendered":"Genting Singapore fully redeems Japanese yen-denominated bonds"},"content":{"rendered":"\n

The company has decided to cancel and fully redeem its Japanese yen-denominated bonds in the principal amount of JPY20.0bn (US$134.4m).<\/p>\n\n\n\n\n\n\n\n

Japan.- Genting Singapore Ltd<\/strong> has announced that it has redeemed the outstanding JPY20.0bn (US$134.4m) Japanese yen-denominated bonds issued in 2017 on an unsecured and unsubordinated basis.<\/p>\n\n\n\n

The company stated: “Following the redemption, the bonds have been cancelled in their entirety and there are no longer any outstanding bonds.”<\/p>\n\n\n\n

When the bonds were issued in 2017, the company said they would be used by a Japanese company for working capital and general corporate purposes in the country. Three years later, Genting Singapore confirmed its interest in a casino licence in Yokohama, Japan. However, when Takeharu Yamanaka<\/a> won the city’s mayoral elections, Yokohama withdrew its integrated resort plans<\/a>.<\/p>\n\n\n\n

In December 2021, the group said that it would close eight subsidiaries registered in Japan and focus on its operations in the Singapore market.<\/p>\n\n\n\n

Earlier this year, the company announced it will invest SGD4.5bn in the expansion of Resorts World Sentosa<\/a> in Singapore as part of the extension of its casino licence to 2030. The expansion plan will cover 1,200 units across its three hotels: Hard Rock Hotel Singapore, Hotel Michael and the Festive Hotel.<\/p>\n\n\n\n

For the first half of the year<\/a>, Genting Singapore reported a rise in gaming revenue of 7.3 per cent year-on-year to nearly SGD475.2m. The company reported that net profit fell by 4.3 per cent year-on-year to SGD84.4m (US$61.3m) while revenue was up 19.5 per cent to SGD663.1m<\/strong>.<\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) came in at SGD268.7m, down 2.7 per cent year-on-year. Non-gaming revenue rose 64.9 per cent to just under SGD183.0m.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has decided to cancel and fully redeem its Japanese yen-denominated bonds in the principal amount of JPY20.0bn (US$134.4m).<\/p>\n","protected":false},"author":176,"featured_media":21474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore Ltd has fully redeemed JPY20.0bn in Japanese yen-denominated bonds, definitively exiting its pursuit of an Integrated Resort (IR) license in Japan. Concurrently, the company is committing SGD4.5bn to expand its Resorts World Sentosa property in Singapore, following a casino licence extension to 2030. This strategic pivot is underscored by recent financial results showing increased revenue but a slight decline in net profit.","focusai_entities":"Genting Singapore Ltd, Hard Rock Hotel Singapore, Hotel Michael, Festive Hotel, Takeharu Yamanaka","focusai_location":"Japan, Yokohama, Singapore, Sentosa","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"ROI of Singapore Expansion?","query":"What is the projected return on investment (ROI) for the SGD4.5bn Resorts World Sentosa expansion, considering the current competitive landscape and anticipated market growth in Singapore?"},{"label":"Impact of Japan Exit?","query":"How will Genting Singapore's definitive withdrawal from the Japanese IR market influence its long-term capital allocation strategy and pursuit of new growth verticals beyond its Singapore operations?"}],"footnotes":""},"categories":[157,16338],"tags":[23687],"class_list":["post-34761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34761","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=34761"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34761\/revisions"}],"predecessor-version":[{"id":34787,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34761\/revisions\/34787"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21474"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}