{"id":39432,"date":"2019-10-01T07:40:10","date_gmt":"2019-10-01T07:40:10","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=39432"},"modified":"2019-10-01T07:40:10","modified_gmt":"2019-10-01T07:40:10","slug":"genting-singapore-to-release-multi-billion-yen-bonds-for-japan","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/genting-singapore-to-release-multi-billion-yen-bonds-for-japan\/","title":{"rendered":"Genting Singapore To Release Multi-Billion Yen Bonds For Japan"},"content":{"rendered":"<p style=\"text-align: left;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-25231\" src=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1.jpg\" alt=\"\" width=\"600\" height=\"399\" srcset=\"https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1.jpg 600w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1-300x199.jpg 300w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1-250x166.jpg 250w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1-405x269.jpg 405w, https:\/\/gaming-awards.com\/NEWS\/wp-content\/uploads\/2014\/06\/genting1-60x40.jpg 60w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/>Genting Singapore has announced its intention to issue yen bonds worth $3.2 billion in a bid to raise capital. Releasing the news on Monday, the casino investment company said the bonds were being created in order to generate working capital for Japan.<\/p>\n<p style=\"text-align: left;\">Part of the wider Genting Group based in Malaysia, GEN Singapore operates one of the Singapore integrated casino resorts. With the money raised it hopes to expand its existing casino as well as compete to open a new casino in Japan.<\/p>\n<p style=\"text-align: left;\"><strong>Existing casino licence<\/strong><\/p>\n<p style=\"text-align: left;\">Genting already holds a casino licence with Singapore which has enabled it to run the successful Resorts World Sentosa in Singapore. This is about to undergo a facelift worth $3.3 billion in an agreement that company has set out with the government.<\/p>\n<p style=\"text-align: left;\">Under the terms of the agreement, Genting Singapore will retain a licence to operate a casino in Singapore until at least 2030. This provides some stability for the company and allows it to continue to collect revenue from its casino business for a further decade.<\/p>\n<p style=\"text-align: left;\"><strong>Plans to expand<\/strong><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: left;\">Genting has ambitious plans to expand beyond its current service which is why it has decided to offer the yen bonds. Designed to raise enough money for it to expand, Genting is planning on scheduling the bonds to mature in October 2021.<\/p>\n<p style=\"text-align: left;\">The bonds will be worth $3.2 billion and will enable Genting to undertake the expansion of its existing Singapore casino. However with the money it also hopes to open a new casino in Japan.<\/p>\n<p style=\"text-align: left;\">It won\u2019t be the first time that Genting has raised money by using bonds. In October 2017, Genting announced a similar plan, that time for the sum of JPY20 billion. Those bonds were issued for working capital in Japan too, similar to what\u2019s required this time around.<\/p>\n<p style=\"text-align: left;\"><strong>Licence to be granted<\/strong><\/p>\n<p style=\"text-align: left;\">During all of this, Japan is said to be ready to issue a further casino licence. Five companies, including Genting, have put their names forward for consideration to be awarded the licence for Osaka.<\/p>\n<p style=\"text-align: left;\">Out of the five that applied originally, it\u2019s believed that Genting Singapore, MGM Resorts International and Galaxy Entertainment Group are the ones battling it out to take the licence that\u2019s up for grabs.<\/p>\n<p style=\"text-align: left;\">It\u2019s believed that an estimated $10 billion will be required to build the casino and it\u2019s not yet known whether Japan will provide any subsidies or whether private firms will have to fund the full amount.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genting Singapore has announced its intention to issue yen bonds worth $3.2 billion in a bid to raise capital. Releasing the news on Monday, the casino investment company said the bonds were being created in order to generate working capital for Japan. Part of the wider Genting Group based in Malaysia, GEN Singapore operates one [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,7],"tags":[],"class_list":["post-39432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-macau"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Genting Singapore To Release Multi-Billion Yen Bonds For Japan - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/genting-singapore-to-release-multi-billion-yen-bonds-for-japan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genting Singapore To Release Multi-Billion Yen Bonds For Japan - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"Genting Singapore has announced its intention to issue yen bonds worth $3.2 billion in a bid to raise capital. Releasing the news on Monday, the casino investment company said the bonds were being created in order to generate working capital for Japan. 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