Genting Singapore has named Osaka or Yokohama as its ideal locations for construction of a Japanese IR, confirming that a major metropolitan area remains the company’s sole focus as it prepares to bid for one of three IR licenses on offer.
The update was revealed by Bernstein analysts following the company’s 2Q18 earnings call on Friday, with Genting Singapore stating it was confident that Osaka would be chosen as one of Japan’s IR locations while “Yokohama has high potential as well.” Regional locations such us Hokkaido and Nagasaki have been ruled out as Genting Singapore targets.
The company also said that it has been “gearing up for this expansion opportunity and has been hiring a new team of Japanese nationals in different disciplines to prepare for the bid.”
Genting Singapore recently announced that it had incorporated five new wholly-owned Japanese subsidiaries – Genting Japan Co., Ltd, Genting Tokyo Co., Ltd, Genting Osaka Co., Ltd, Genting Yokohama Co., Ltd and Resorts World Yokohama Co., Ltd.
It added at the time that each subsidiary “has an issued and paid-up share capital of JPY2 and its principal activities will be that of development and management of integrated resort and leisure destinations; marketing and promotion of integrated resort and leisure destinations; and investments and management of real estate and trust beneficiary interests.”
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