An analyst at Maybank Research believes a Yokohama casino would clear up in Japan, generating US$7bn in GGR and taking a 60 per cent share of the Japanese casino market, highlighting its strength in the locals market as a key factor
Analyst Samuel Yin Shao Yang believes locals will account for 80 per cent of revenue, pitched at US$5.8bn in the first year. He adds that Genting Singapore is in pole position ahead of Melco Resorts, Sega Sammy and Shotoku, saying it would score highly on tourism, financial strength and responsible gambling. He pitches first year profit at US$2.7bn.
“Genting Singapore is better positioned than its competitors by miles,” he said. “Genting Singapore has divulged very little information on its Yokohama IR bid. Notwithstanding, our channel checks in Japan indicate to us that Genting Singapore is very actively pursuing its Yokohama IR bid and is better positioned to win the Yokohama IR RFP process than many of its competitors.”
Mr. Yin believes that a casino in Osaka or Wakayama would account for 27 per cent of Japan’s casino revenue with Nagasaki generating 13 per cent.