Genting Singapore Plc established its ninth wholly owned subsidiary in Japan in less than a week.
The company, developer and owner of the resort World Sentosa Casino Resort (pictured) in Singapore, announced the incorporation of its indirect wholly-owned subsidiary Bay City Ltd. in Japan in a filing to the Singapore Stock Exchange on Friday.
BayCity’s initial equity capital was 2.00 yen (2US cents). Genting Singapore said the company would be “primarily engaged in leisure and hospitality services and related businesses.”
Malaysia’s Genting Bhd said in a regulatory filing last Thursday that its subsidiary, Genting Singapore, was organizing a dedicated project team to prepare a proposal if the Japanese parliament approves a draft law to legalize casinos. “Genting Singapore will work with Japanese agencies that will add to the strength of the integrated resort proposal in Japan,” Genting Bhd said.
Earlier last week, Genting Singapore had already established eight indirect wholly-owned subsidiaries in Japan. The Japanese companies, each with nominal registered capital of 2.00 yen, include Resorts World Japan Inc., Resorts World Tokyo Inc., and Resorts World Osaka Inc., which will “mainly engage in investment holdings, leisure and related businesses,” the data said.
The possibility of passing a casino permit bill in Japan’s National Assembly, which ends on June 22, is slim.
Japanese gaming company Konami has also set up a corporate structure to invest in casinos, expecting them to become legal in Japan. The company announced last week that it was setting up its subsidiary Konami Gaming Japan Corporation, which will invest in the domestic casino sector when it is allowed.
BY: 파워볼사이트