Oct 25, 2022 Newsdesk Japan, Latest News, Singapore, Top of the deck  
Former Japan casino licence suitor Genting Singapore Ltd says it has cancelled and fully redeemed “in their entirety” Japanese yen-denominated bonds in the principal amount of JPY20.0 billion (US$134.4 million at current exchange rates) that it had publicly offered in 2017 on an unsecured and unsubordinated basis.
At the time of issuing the bonds, the group – promoter of the Resorts World Sentosa casino complex in Singapore – said they would be used by a Japan entity “for working capital and general corporate purposes” in that country.
In September 2019, the company had said it might raise as much as JPY350 billion in yen-denominated bonds, for working capital and general purposes there.
In early 2020, Genting Singapore confirmed interest in pursuing a casino permit in Yokohama, Japan.
In May 2021 it was identified as a qualified bidder in Yokohama’s process to host an integrated resort (IR). But Genting Singapore shelved its effort in September that year, after the city’s freshly-elected mayor said the metropolis would not pursue the casino initiative.
In December 2021 the group announced it would shut down eight subsidiaries incorporated in Japan.
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"The travel demand for May Golden Week looks solid to us, which means good foot traffic in Macau"
Jeffrey Kiang
Analyst at brokerage CLSA