Genting Singapore announced Tuesday that it had fully redeemed JPY20 billion (US$135 million) in outstanding yen-denominated bonds previously issued through its Japan branch as part of its fund-raising efforts to develop an integrated resort in Japan.
Following the redemption, the bonds have been cancelled in their entirety and there are no longer any outstanding, the company added.
Originally issued in October 2017, the bonds had been part of Genting Singapore’s efforts to develop an integrated resort following passage of Japan’s IR Promotion Bill into law in June of that year. Genting Singapore had been one of the first international gaming firms to express interest in developing an IR in Osaka.
It later switched its focus to Yokohama and had been favored to win the vote of city officials before the election of anti-IR campaigner Takeharu Yamanaka as mayor last August saw Yokohama withdraw from the race altogether.
Genting Singapore is owner and operator of Resorts World Sentosa – one of only two integrated resorts in Singapore alongside Marina Bay Sands.
