Genting Singapore has received overwhelming approval from its shareholders to spend up to $10 billion for an IR bid in Japan.
The vote was taken during an extraordinary general meeting on February 4, called by the board of directors.
“The Japan IR project offers the group an opportunity to leverage its core expertise in the development, operation, ownership, and management of IR destinations, to achieve geographical diversification and sustain its growth trajectory in the longer term,” said Genting Singapore in a written notice sent to shareholders when announcing the EGM.
Genting reiterated during the meeting that funding will come from existing cash, borrowings, and local partners, rather than tapping into existing shareholders to fund the project.
AstroPay is the pioneer payment solution for thousands of consumers in Latin America, Asia and Africa, who want to purchase online on international sites, that helps merchants access new markets through its main product, AstroPay Card.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.