Malaysia-based global gaming and gambling giant, the Genting Group is confident of its success in getting a Casino license in Japan. The company has been looking to expand in Asia and with its plans already materializing in Singapore, it is now eyeing at the Japanese market.
Lim Kok Thay, Chairman of the Genting Group, has said: “ We are positive about our efforts in getting a casino License in Japan.” The company is in the loop along with major industry players including MGM Resorts International. Genting is all set to make a bid for the license through its subsidiary Genting Singapore.
While there is stiff competition facing even the global gambling giants, Gentings chances of winning the Japanese casino license is bright. In a recent report, the research company Maybank Kim Eng has said that the company has good chances of winning the bid. The company’s subsidiary, Genting Singapore has high net cash reserves, and that is going in their favor.
Genting also owns and operates the Resorts World Sentosa, one of the two integrated casino resorts in Singapore. The company has recently revealed an expansion plan for the property.
According to the expansion plan Genting Singapore will be spending S$4.5 billion (approx. $3.3 billion) on increasing the floor area and also adding more amenities. The floor area will be doubled, and also some non-gaming facilities will be added which include a Minion Park and a Super Nintendo World theme park.
In a statement to the press, the company chairman Mr. Lim has also said that they will add 1,100 new hotel rooms to the property.
Recently the Genting Group has also tapped into the Vegas market and has been developing a multi-billion dollar Integrated casino resort by the name of Resort World Vegas. It is estimated that the company would invest $billion to develop the property. Resorts World Vegas is expected to begin operations in 2020.