Gaming insights Gaming

Genting Singapore confirms Japan ambitions

Written by Ben Blaschke

Genting Singapore has stated its intention to actively pursue a casino license in Japan, with the company currently positioning itself as a “strong candidate” once the bidding process begins.

Outlining Genting Singapore’s upcoming plans in its 2016 Annual Report, Executive Chairman Tan Sri Lim Kok Thay confirmed the company now considered Japan to be its number one growth target after selling off its share Korea’s Resorts World Jeju last year.

“We are encouraged by the passing of the IR Promotion Bill in Japan and will be positioning the Group as a strong candidate for the bidding process,” he said. “If we are successful in bidding for the Integrated Resort in Japan, this project will create significant value to the growth of the Group.”

Genting Singapore reported revenue of US$2.2 billion for the year ended 31 December with adjusted EBITDA of US$779 million. Net profit for the year was US$384.5 million, up from US$193.1 million in 2015.

The company is also in the process of transforming its flagship Resorts World Sentosa property into “a premium lifestyle destination targeting Asia’s affluent” as it looks to increase Chinese visitation. Among its primary strategic moves in 2016 was appointing Chinese online payment provider Alipay as “preferred partner” for China and official sponsor of SEA Aquarium and Resorts World Theater.

“We look forward to building our business in strategic markets through this important partnership, leveraging on Alipay’s brand presence and network in Greater China,” Lim said.