Genting Singapore in race for casino license in Japan

Genting Singapore Limited, a casino operator based in Singapore, is among the hot favourites to win the license for casino operation in Japan.

The Japanese parliament passed the Integrated Resorts (IR) Implementation Bill a few days ago. It will allow land-based casinos in three locations, as per the bill. In the near future, international operators are set to fight for casino licences in Japan and – according to brokerage Maybank Kim Eng, Genting Singapore Ltd. – is among the favourites to score its own.

The Malaysian firm explained that the Singaporean company “stands a good chance to win a licence thanks to its responsible gaming experience and solid net cash position”. In a note revealed on Sunday, they explained that lawmakers looked at Singapore’s casino resort’s social safeguards as a role model during the debate of the IR Implementation Bill. That could mean that a business that comes straight out of the country would be a top candidate in the bidding process.

The recently-approved bill is the second of the two pieces of legislation designed to give the casino industry a proper framework in Japan. According to Maybank Kim Eng, the bidding process could begin as soon as next year, meaning that the first casino licences would be issued around 2020 and venues would open sometime in 2025.

Source: focusgn.com