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KUALA LUMPUR (June 15): Japan's Sega Sammy Holdings is investing up to 120 billion yen (US$1.09 billion) for a minority stake in the development of an integrated resort (IR) in Yokohama that a consortium led by Genting Singapore Ltd will be bidding for, according to Inside Asia Gaming.
The consortium includes five Japanese companies. Besides Sega Sammy, the others are Sohgo Security Services Co Ltd, and major architecture, engineering and construction firms Kajima Corp, Takenaka Corp and Obayashi Corp.
“We have come to the conclusion that Genting Singapore is the best partner for the success of our domestic IR business, who has been successfully developing and operating Resorts World Sentosa in Singapore, one of the regions that operates and develops an integrated resort under the strictest discipline in the world.
“Through this consortium, we will proactively participate in IR business in Yokohama City, create a new industry in Japan and contribute to the revitalization of the domestic economy and the tourism industry,” said Sega Sammy.
The consortium has applied for the request for proposal (RFP) application and aims to open the new resort in the latter part of this decade if it secures city and national selection, according to the report.
At 11.36am, Genting Singapore shares were unchanged at 88.5 cents, giving the group a market capitalisation of S$10.7 billion.
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