Thursday, February 8, 2018

Asian casino operators make it in Nikkei’s ‘companies to watch’

Casino – CalvinAyre.com
Asian casino operators make it in Nikkei’s ‘companies to watch’

Japan-based Nikkei Inc. is betting on Asian gambling operators to become one of the biggest and fastest-growing companies in the region.

Asian casino operators make it in Nikkei’s 'companies to watch'Nikkei has created an exclusive list of 300 “companies to watch” from 10 Asian countries and regions, which includes several gaming companies in Asia Pacific.

The gaming companies who made it in the newly-created Nikkei Asia 300 Investable Index includes Hong Kong-listed gaming company Galaxy Entertainment Group (GEG); Philippine-listed casino operator Bloomberry Resorts; South Korean casino operator Kangwon Land Inc; Genting Singapore Plc, the operator of Resorts World Sentosa in Singapore; and Genting Malaysia Bhd, which runs Resorts World Genting, Malaysia’s only casino resort, and operates casinos in the United States, the Bahamas and the United Kingdom.

In handpicking the companies to be included in Nikkei Asia 300, Nikkei said they considered the market capitalization, as well as growth potential and geographic balance.

The Japanese media firm pointed out the Asia 300 offers “a glimpse of the players that aspire to be dominant forces in the 21st century” that will challenge the established Western brands.

For GEG Vice Chairman Francis Lui Yiu Ting, the casino operator’s inclusion in the Nikkei’s exclusive list is a vote of confidence as the company prepares to bid for an integrated resort license in Japan.

“It is also a direct reflection of GEG’s exceptionally strong operational and financial performance in recent years, with group revenue for the 12-month period to September 2017 of US$7.5 billion,” Lui said in a statement.

MGM Resorts eyes Osaka for its integrated resort plan

In other Japan casino news, MGM Resorts International Chairman and Chief Executive Officer James Murren wants to build an integrated resort in Osaka if given a chance.

Jiji Press reported that Murren hopes to bring the MGM brand to Osaka and make it a global information hub. The city’s rich food culture and accessibility to tourist spots are the main reason why he hopes to construct a casino resort in Osaka.

Casino operators are scrambling to get the best seat possible before Japan finally opens its casino market. Discussions on the IR Bill were put on hold last year after Japan Prime Minister Shinzo Abe decided to dissolve the country’s lower house, and called a snap election.

It is likely that the IR Bill will pass toward the end of the ordinary session on June 20, or, failing that, in a fall extraordinary session.

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