Genting Singapore has officially declared the members’ voluntary dissolution and liquidation of seven several indirect wholly-owned subsidiaries incorporated in Japan.
The subsidiaries affected by this decision include Acorn Co., Ltd., BlueBell Co., Ltd., Genting Japan Co., Ltd., Genting Tokyo Co., Ltd., Resorts World Japan Co., Ltd., Resorts World Tokyo Co., Ltd., and SunLake Co., Ltd.
Genting Singapore previously pursued a bid to develop an integrated resort in Yokohama City, in a consortium including Sega Sammy. However, in 2023 confirmed it had decided to step out out of the race to develop an IR in the country.
The company has indicated that the dissolution process is not expected to have a material impact on the consolidated net tangible assets or earnings per share of the Group for the financial year ending December 31, 2024.
Furthermore, it was emphasized that none of the Directors or substantial shareholders of Genting Singapore hold any direct or indirect interest in the voluntary dissolution beyond their respective shareholdings in the Company.
Genting was just one of many operators who had expressed interest in Japan – including Las Vegas Sands, Melco Resorts and Entertainment, Caesars Entertainment, Hard Rock International, Suncity Group, MGM Resorts and Casinos Austria, among others.
