"The group has completed a study of our capital structure, and over the next three years will execute a corporate finance strategy that fulfills our various investment requirements including integrated resort projects, and yet maintaining an efficient capital funding model,” Genting Singapore said.
The company is the operator of Singapore casino complex Resorts World Sentosa and is a subsidiary of Malaysian conglomerate Genting Bhd.
Several international casino operators – including Las Vegas Sands Corp, MGM Resorts International, Melco Crown Entertainment Ltd and Hard Rock International Inc – have recently restated their interest in a casino licence in Japan.
Legislation making casino gambling legal in Japan came officially into effect on December 26, although investment analysts have said that it could be beyond the year 2021 before the first Japanese casino resort opens.
"The field is getting a lot more crowded and suggests the odds [for a Japanese casino licence] are getting longer for Genting Singapore,” Union Gaming Securities Asia Ltd’s Grant Govertsen said in a note following the casino operator’s results announcement.
Brokerage CLSA Ltd estimates a Japanese casino industry could be worth US$ 10 billion annually even if only two resorts were permitted.
