New Proposal For Japan Casino Resort
Genting Singapore Looking To Invest $10B In Japan Casino Resort
Within the background of the Japan casino bribery scandal, key operators hoping to get a slice of the resort project feel it the scandal will blow over, and when it does, they hope to get one of the three integrated resort licenses. One of such firms is Genting Singapore.
The big time establishment and the owner and operator of Resorts World Sentosa are looking for shareholder approval to invest $10 billion in Japan if it is given one of the aforementioned integrated licenses.
There is already a meeting planned for next month. The Genting Singapore board of directors and shareholders will meet. The board will ask the investors to sign off on allowing the company to move forward with its plans.
” The board believes that the Japan IR project presents a unique opportunity for the Company to enhance its growth profile,” the meeting notice explained. “The board believes that the Company is well-positioned to develop a truly transformational IR project in Japan.”
With the $10 billion, Genting hopes to build the most expensive casino resort ever to grace the world. The company insists that the $10 billion is to cover several factors surrounding the process, such as environmental considerations, land acquisition, and so on.
The Best Singapore Casino
Genting Singapore believes it has what it takes to be one of the licensed operators in Japan. The parent company Genting Group has a fleet of casinos in New York, UK, Malaysia, Bahamas, and soon Las Vegas. The company believes that its experience in the gaming industry puts it above other operators.
“In its rationale for the proposed bid, Genting Singapore explains, “The company’s flagship project, Resorts World Sentosa opened in February 2010, after a record short construction time of 34 months. Today, it welcomes more than 20 million visitors annually, and accounted for more than one-third of international visitor arrivals into Singapore in 2018.”
Japan wants to focus on expanding its tourism, but also wants to liberalize commercial gambling.
“The group operates its Singapore IR in an environment where the operational and regulatory regime is of very high standards. It has met and continues to meet the stringent regulatory requirements imposed on both the casino and non-casino businesses,” the memo declared.
