Genting Riding on Singapore Experience to Win Yokohama bid
Genting Singapore Limited expects to complete a successful bid for an integrated resort in Yokohama city in Japan, the firm's management states. As operators of the famous Resorts World Sentosa Casino , the group is confident their track record will boost their bid.
According to a published presentation deck from the company’s annual general meeting, Tan Hee Teck, the company’s President and Chief Operating Officer, stated that their high chances were based on their success with the Singapore-based casino Sentosa.
Mr. Tan stressed that their experience in Singapore would add great value to Yokohama. He stated that Resorts World operated under high regulatory and operational standards in Singapore and could easily use this experience in Japan.
The group's financial position is also expected to be an advantage over other competitors. Genting Singapore is currently into several lucrative joint ventures.
The firm is linked to Sega Sammy Holdings Inc, a Japan-based entertainment and gaming company. They have also partnered with Kajima Corp in Japan for construction projects.
Genting Singapore Limited is just one of the top qualified contenders for a Japan Casino license for the complex, though. They go head-to-head with another operator, Melco Resorts and Entertainment Ltd.
However, based on these factors, many suggest that Genting presents a more compelling bid. For instance, Maybank Investment Bank Bhd suggested recently that Genting Singapore stands better chances for the Japan license than the other competitor, Melco Resorts.
They highlighted that Genting’s cooperation with local firms really helps their case as well.
Reports from the annual company meeting also show that the group's Executive Chairman's remuneration was in part being used to tether a successful bid for the license in Yokohama.
Although Melco is still a viable contender, more observers tip the race in favour of Genting Singapore. They are getting closer to winning the race to bring an Integrated Resort to Japan’s largest city.