2020_8_pragmatic.gif
2020_8_pragmatic.gif
2020_8_pragmatic.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2020 AffiliateCon
NEWS 20 January 2020

Genting Singapore seeks approval for $10bn Japan IR budget

By Aidan Williams

Genting Singapore has set a maximum budget of $10bn for a proposed development, operation, management and/or ownership of an IR  in Japan. 

The company announced in a circular that it is seeking an extraordinary general meeting (EGM) to take place on 4 February, where it will seek approval from the shareholders for "one or more" bids for one of the three available IR licenses in the country, following the Diet's legalisation of casinos.

With regards to where the bid would focus on, the statement said: “In addition, the board has considered that it will focus on major prefectures and cities in submitting the proposed bid.

"This is to ensure that the company develops and operates a Japan IR in a prefecture or city with a large addressable market.”

Genting will not bid for more than one IR license, although it may put forward more a bid in the first seven years after the Minister for Land, Infrastructure, Transport and Tourism of Japan has approved the first IR.

Genting said: “The group’s strong financial position puts it in an exceptional position to develop a truly transformational project in Japan. 

“The Japan IR investment will enable the group to optimise its balance sheet and create attractive and sustainable returns to shareholders in the medium and longer term, as it did with the Singapore IR.”

RELATED TAGS: Financial
DISCUSS THIS ARTICLE
2020_2_sbtech.jpg
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
MUST READ
IN-DEPTH 24 February 2020
Seeing a new side to the industry
READ MORE
PREMIUM CONNECTIONS
Affiliate
1xPartners
VIEW PROFILE
PR and Marketing
ActiveWins
VIEW PROFILE
Industry Awards
Global Gaming Awards
VIEW PROFILE
Systems and Software
Efbet
VIEW PROFILE
Systems and Software
BetConstruct
VIEW PROFILE
Systems and Software
BBIN
VIEW PROFILE
Systems and Software
Newgioco Group
VIEW PROFILE
Systems and Software
NSoft
VIEW PROFILE
Legal and Jurisdictions
Digital Isle of Man
VIEW PROFILE
Payments
Zimpler
VIEW PROFILE