All-Japan suitor GEN Singapore cancels, yen bond repayments

Genting Singapore Inc., a former Japanese casino license litigant, said it had canceled and repaid in full the 20 billion yen ($134.4 million) principal amount of its offering on an unsecured and unranked basis in 2017.

At the time of bond issuance, the group, the promoter of the resort's World Sentosa casino complex in Singapore, said the bonds would be used "for working capital and general corporate purposes" by a Japanese company in Singapore.

In September 2019, the company said it could raise up to 350 billion yen in yen-denominated bonds for working capital and general purposes.

In early 2020, Genting Singapore confirmed its interest in pushing for a casino license in Yokohama, Japan.

It was identified as a qualified bidder in the process of attracting Yokohama's Integrated Resorts (IR) in May 2021. However, Genting Singapore put its efforts on hold in September of that year after the newly elected mayor said the metropolis would not pursue casino initiatives.

In December 2021, the group announced that it would close eight subsidiaries established in Japan.

BY: 온라인카지노