Hong Kong-listed investment firm Get Nice Holdings has signed a memorandum of understanding with Japan’s Shotoku Rinaldo Corporation to develop a regional integrated resort at Makinorhara-Shi Municipality in the Shizuoka Prefecture in Japan.
In a filing with the Hong Kong Stock Exchange this week, Get Nice said that its wholly-owned subsidiary, Genius Wise Holdings Limited, was looking to develop a Japanese IR featuring hotels, casinos, restaurants, shops, entertainment facilities and convention centers covering a total floor space of around 400,000 square meters in Shizuoka – home to Japan’s most iconic natural attraction Mt Fuji.
Get Nice Holdings previously held a 65% stake in Macau casino Grand Waldo, which was purchased by Galaxy Entertainment Group in 2013 and re-developed to what is now Broadway Macau.
According to the company’s filing, Shotoku Rinaldo Corporation is looking to obtain government permission and approval to operate “holiday resorts” in Japan. Get nice added that, to the best of its knowledge, the election committee of the Integrated Resort office of Makinohara-Shi, Shizuoka Prefecture had issued Shotoku Rinaldo with a letter of confirmation as its sole candidate to develop a regional IR.
Explaining the reasons for its Japanese IR bid, Get Nice said the MOU is “not only in line with the company’s strategy to diversify its overseas business” but also complements its property development segment.
“The group is expected to benefit through the combination of our extensive experience in operating integrated entertainment complex in Macau in previous years together with the expertise and local network of SRC in developing the IR Project in Japan,” it said. “Such integration will bring in a new business segment and will add a new revenue stream for the group in a long run.”