Genting is getting ready for Japan’s casino bid

The company detailed in its annual report that it is preparing for the eventual casino licence bid in Japan.

Japan.- Genting Berhad released its annual report, in which it said that it is preparing for an eventual bid for a casino licence in Japan. The parent company of Genting Singapore is confident that the Integrated Resorts Implementation Bill will be tabled this year.

“Many global gaming operators have pronounced their very keen interest to bid, and Genting Singapore will be facing fierce competition for the limited number of licences,” said Genting Berhad.

The report detailed that Genting Singapore raised a total principal amount of US$177 million last year, through publicly offered Japanese yen-bonds. Those instruments have a maturity date set on October 24th, 2022. “The funds are earmarked to support its corporate activities in Japan including preparatory works in anticipation of the passage of the Japan Integrated Resort Execution [Implementation] Bill and bidding for gaming licences in Japan,” said the annual report.