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The management of Genting Singapore Ltd, operator of the Resorts World Sentosa casino resort, said it has made corporate decisions based on its expectation of a “successful bid” for a Japan integrated resort (IR), as these complexes are known in that country.
Such expectation was “based on the group’s commendable track record in developing and successfully operating Resorts World Sentosa in Singapore,” stated Tan Hee Teck, the firm’s president and chief operating officer. His comments were made during the company’s annual general meeting, according to a presentation deck published this week.
Genting Singapore is a contender for a Japan casino licence, being one of the qualified bidders in the race to be Yokohama’s partner on a casino complex.
Genting Singapore grants US$5 million award shares to staff and directors
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Genting Singapore, the arm of Malaysian gaming giant Genting Berhad that operates Singapore’s Resorts World Sentosa and is seeking a Japan IR license, has announced the granting of almost 8 million share awards to staff, including 2 million shares awards to six directors.
The share awards, worth a SG$0.85 each or a combined SG$6.6 million (US$5.0 million) as of 1 March 2021, comprise 5,765,000 granted to “selected employees of the Genting Singapore Group.”
The remaining 2 million shares worth SG$1.7 million (US$1.3 million) have been divided between six directors, of which 750,000 have been granted to each of Genting Group Chairman and CEO Lim Kok Thay and Genting Singapore President and COO Tan Hee Teck.