Genting Singapore withdraws from Osaka IR race

Genting Singapore and Galaxy Entertainment have exited the race to develop a theme park and integrated resort (IR) in Osaka, Japan. Therefore, the last competitor standing is MGM Resorts.

According to Casino.org, MGM Resorts and Orix were the only party to submit a bid in Osaka’s request for proposal (RFP).

Genting Singapore and Galaxy Entertainment both confirmed their withdrawal from the Osaka IR on the artificial island of Yumeshima.

“After careful consideration of the opinions of many shareholders, we regret that we will not continue our participation in the Osaka IR project going forward,” Genting said in a statement.

“In the future, Genting Singapore will focus on participating in the Yokohama IR request for concept (RFC), which is currently underway.”

Genting and Galaxy to focus on Yokohama IR

osaka

An executive for Galaxy Entertainment said: “We decided at this time that our focus should be on other potential locations in Japan, including among others, Yokohama.”

Genting Singapore Ltd was one of seven operators to participate in Osaka’s RFC process. Others included Wynn Resorts, Las Vegas Sands Corp, and Melco Resorts and Entertainment Ltd.

However, Wynn Resorts, Las Vegas Sands Corp, and Melco Resorts and Entertainment Ltd previously abandoned plans for the IR.

Osaka is a leading candidate for one of the three IR licenses available in the first phase, alongside Yokohama and Tomakomai.

In December, Genting Malaysia Bhd reported its Q3 2019 results, posting a net profit. It also provided a brief update on the progress of its outdoor theme park (OTP) at Resorts World Genting (RWG).