Genting Singapore Limited strengthens bid to run planned Yokohama casino

Home » Genting Singapore Limited strengthens bid to run planned Yokohama casino

In Japan and Genting Singapore Limited has reportedly inked deals with five local partners as it looks to be named as the preferred operating partner for the integrated casino resort being planned for the city of Yokohama.

According to a Saturday report from Inside Asian Gaming, the Singapore-headquartered subsidiary of Asian casino giant Genting Malaysia Berhad has agreed alliances with Japanese gaming machines manufacturer Sega Sammy Holdings Incorporated alongside construction specialists Obayashi Corporation, Kajima Corporation and Takenaka Corporation. The source detailed that these arrangements, which also include an alliance with security specialist Sohgo Security Services Company Limited, come after the hopeful officially submitted its bid for the Las Vegas-style development Yokohama is planning to build on a 116-acre waterfront parcel of land near Yamashita Park.

Prolonged process:

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Located some 17 miles south of central Tokyo, Yokohama is home to approximately 3.7 million people and is reportedly keen on being given permission to host one of Japan’s coming trio of integrated casino resorts under a 40-year license. However, before it can begin construction, the city is first being obliged to select a foreign firm to run the envisioned gambling-friendly development and submit its completed license application to a panel of federal selectors before the conclusion of an April of 2022 deadline.

Optimistic objective:

Genting Singapore Limited reportedly declared that the six firms now intend to bring together a range of specialist skills targeted towards developing ‘a world-class integrated resort destination’ that is to be ‘strategically positioned, sustainable and anchored on strong local collaborations.’ But, Tokyo-headquartered Sega Sammy Holdings Incorporated is purportedly the sole member of the group to have any previous experience at running a Japanese entertainment facility via its non-gaming Phoenix Seagaia Resort enterprise, which is located on the southern island of Kyushu.

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Reduced runners:

Already responsible for Singapore’s giant Resorts World Sentosa development, Genting Singapore Limited is purportedly now set to battle it out with Macau gambling behemoth Melco Resorts and Entertainment Limited for the right to be named as the preferred operating partner for Yokohama’s planned integrated casino resort. The source reported that Sega Sammy Holdings Incorporated, which holds a 45% stake in South Korea’s impressive Paradise City development, was furthermore in the running until a finance-linked decision late last month to only proceed via a minority interest.

Reportedly read a statement from Genting Singapore Limited…

“Having both solid financial strength and a successful track record of over 30 years in developing tourist-focused integrated resorts, we are ideally positioned to deliver an iconic integrated resort to transform and grow Yokohama into a major tourist destination. In turn, the city will be an in-bound tourism gateway to Japan and contribute towards Japan’s tourism growth strategy.”

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