In hopes of gaining an advantage over its competition and secure the rights to build at least one of the integrated casino resorts set for Japan, Asian gaming giant Genting Singapore has reportedly established a branch office in Tokyo.
According to a report from GGRAsia, the firm behind the Resorts World Sentosa development publicized the move via a filing to the Singapore Exchange on Wednesday and stated that the purpose of the new bureau was to aid in the “development and management of leisure and hospitality businesses”.
Genting Singapore is reportedly competing against the likes of Crown Resorts Limited, Boyd Gaming Corporation, Melco Resorts and Entertainment Limited, Las Vegas Sands Corporation, MGM Resorts International and Galaxy Entertainment Group Limited for permission to open one of up to four integrated casino resorts in Japan while the latter two have similarly recently inaugurated local offices.
GGRAsia reported that Genting Singapore established a string of Japan-based subsidiaries in 2014 including Resorts World Japan Company Limited, Resorts World Tokyo Company Limited and Resorts World Osaka Company Limited. The casino operator purportedly declared at the time that these subordinates were initiated to “be principally engaged in investment holding, leisure and related businesses” while it asserted yesterday that its latest effort is moreover due to handle “administration and resource support” encompassing “research and market studies” as well as “investment and promotion”.
Genting Singapore reportedly explained via its second-quarter financial results in August that it was “closely following” the progress of proposed legislation that would legalize and license integrated casino resorts in Japan. This followed its decision last year to dispose of its interests in South Korea’s under-construction Jeju Shinhwa World development so that it could focus on potential projects elsewhere including on the other side of the Korea Strait.