Genting Singapore prowling for new venture in Japan

But here's what's holding it back.

According to DBS, while GENS is ready to bid in Japan, it remains to be seen whether Japan can be a lucrative market given no clarity on tax rates and regulations (any restrictions on locals will make Japan less attractive given relatively low tourist arrivals). 

Japan’s gaming legislation may be introduced in 2 parts - Part 1 (as early as end-2013) will likely approve IRs in certain perfectures while details will be unveiled in Part 2 (12 months thereafter).

"Hence, bidding process is expected to take place only in 2016. In the meantime, GENS is eyeing other Asia ventures which may materialise within the next 6-12 months. Funding is not an issue given GENS’ US$1.5bn net cash and healthy operating cashflows (US$1.2b p.a.)," DBS said.