The firm that once controlled Macau’s former Grand Waldo Casino has reportedly announced the formation of a partnership that it hopes will be granted one of the three integrated casino resort licenses being made available in Japan.
According to a Thursday report from GGRAsia, Hong Kong-listed Get Nice Holdings Limited used an official filing to detail that its Genius Wise Holdings Limited subsidiary had established an alliance with Japanese conglomerate Shotoku Rinaldo Corporation in order to work towards bringing a giant casino to southern Shizuoka Prefecture on the main island of Honshu.
Get Nice Holdings Limited had reportedly utilized a gambling license from Galaxy Entertainment Group Limited to run the Grand Waldo Casino. However, it disposed of its interests in the Cotai Strip property for approximately $414.3 million in May of 2013 with the venue subsequently being redeveloped to become the Broadway Macau.
GGRAsia reported that the new partnership arrangement has seen Get Nice Holdings Limited grant options on 289.8 million of its shares worth around $9.6 million to a trio of individuals connected to Shotoku Rinaldo Corporation and the proposed Japanese casino project. The parties are to now purportedly work towards securing permission to bring an integrated casino resort to the community of Makinohara-Shi, which lies around 110 miles southwest of the giant cities of Tokyo and Yokohama.
‘Extensive experience’ strategy:
Get Nice Holdings Limited reportedly used its filing to declare that it hopes to include shops, hotels, restaurants and entertainment facilities in the envisioned Japanese casino property alongside ‘convention centers with approximately 4.31 million sq feet of total floor area.’ The firm moreover stated that its newly-established entity is the ‘only candidate nominated’ by the government of Makinohara-Shi and will benefit from its own ‘extensive experience in operating an integrated entertainment complex in Macau in previous years.’
Reportedly read the filing from Get Nice Holdings Limited…
“Shotoku Rinaldo Corporation and its beneficial owners have long been conducting business in Japan engaged in healthcare, medical equipment and agricultural products as well as gaming-related business in Asia.”
But, GGRAsia reported that Get Nice Holdings Limited is due to face a considerable amount of competition in securing an integrated casino resort license for Japan with the cash-rich likes of MGM Resorts International, Melco Resorts and Entertainment Limited, Caesars Entertainment Corporation and Hard Rock International Incorporated also said to be interested in entering a market that could eventually bring in total revenues worth up to $15.8 billion a year.