Thursday 28 Mar 2024
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SINGAPORE (Feb 18): Genting Singapore (GENS) did not take part in the bidding of the Osaka integrated resort (IR).

Last Friday, the Osaka prefectural government announced that among the three shortlisted candidates (Genting Singapore, MGM and Galaxy) to submit the request-for-proposal (RFP) for the integrated resort concession bid, MGM and local partner Orix joint venture was the sole applicant.

According to Casino.org, MGM was the only operator making promises to hit a 2025 grand opening, an important date for Osaka to host the World Expo.

With Osaka now out of the way, GENS will focus to compete in Yokohama’s IR concession bid. Thus far, the group has not yet shared plans of its bid (Yokohama is expected to announce the winning bidder by 2H20) but competition will also be stiff among Las Vegas Sands, Melco and Wynn.

Nonetheless, UOB Kay Hian is keeping its “buy” call on GENS with a target price of 95 cents.

For the full story, visit www.theedgesingapore.com.

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