Genting Singapore, operator of Resorts World Sentosa, is asking investors to approve plans to commit up to $10 billion toward a potential integrated resort (IR) in Japan if the company secures one of three coveted licenses.
The board of directors will convene an extraordinary general meeting at Resorts World Sentosa next month, where shareholders will be asked to authorize the multibillion-dollar investment.
“The Japan IR project presents a unique opportunity to enhance the Company’s growth profile,” the board said in its meeting notice. “We believe Genting is well-positioned to deliver a truly transformational project in Japan.”
If approved, the $10 billion outlay would make Genting’s proposed resort the costliest standalone casino project in history. The budget accounts for tender requirements, land purchases, environmental assessments, construction, and pre-opening expenses.
Global Competition Heats Up
Japan’s gaming market is projected to exceed $20 billion annually, drawing interest from the world’s leading casino operators. With only three licenses available, competition is fierce.
Las Vegas Sands and MGM Resorts are seen as frontrunners, targeting Yokohama, Tokyo, and Osaka, respectively. Sands founder Sheldon Adelson has floated a $10 billion figure, while Melco Resorts chief Lawrence Ho has suggested there would be “no cap” on investment.
Genting, however, is the first operator to formally seek shareholder consent for such a massive expenditure. The company has responded to requests for concepts in both Osaka and Yokohama and says approval could pave the way for multiple bids.
Experience as an Edge
Backed by parent Genting Group—which operates casinos across Malaysia, the UK, the Bahamas, New York City, and soon Las Vegas—the Singapore arm points to its proven track record as a differentiator.
Resorts World Sentosa, opened in 2010 after just 34 months of construction, now attracts more than 20 million visitors a year and once accounted for a third of Singapore’s inbound tourists.
Japan, while keen to expand tourism through IR development, remains cautious about the social risks of legalized gambling. Genting argues it is well-suited for the market, having operated under Singapore’s strict regulatory framework.
“The group has consistently met stringent requirements governing both casino and non-casino operations,” the company stated.
Only a simple majority of shareholder votes will be required to approve the $10 billion plan.
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