JAPAN – Oshidori confident of Nagasaki IR bid
Following termination of MOU with France’s Groupe Partouche
Hong Kong SE group Oshidori International Holdings Ltd has issued a statement confirming the withdrawal of French casino operator Groupe Partouche SA from their proposed alliance to bid for a casino resort scheme in Nagasaki prefecture, following a statement by the French group.
In its own statement, Partouche said that the proposed partnership, bound by a preliminary MOU signed in 2019 between the two companies, had been abandoned owing to “differences in vision and strategies.”
Oshidori said to local press that they are confident about their bid for a license in Nagasaki, and further forward it will be “far more exciting” than any other project. The company added that the termination of an accord with France’s Groupe Partouche won’t affect its chances. “As the discussion was at a very preliminary stage and both parties were not involved in any actual collaborative efforts with no resulting definitive agreement, Oshidori does not believe such termination would have any impact on the company’s bid for Nagasaki nor pose a threat,” it said in an emailed statement.
Oshidori recently appointed industry veteran Alex Yemenidjian to run the IR project and the new team is working “vigorously” to bring the best possible IR experience to Nagasaki.
Japan’s IR process has been shaken significantly in recent months, with several big-name participants pulling out. Earlier this week, Wynn Resorts confirmed it is closing its Yokohama office, citing the high costs and the impact of Covid. However, it has still stressed that longer term it continues to have an interest in the market. Las Vegas Sands withdrew due to troublesome regulation, while Caesars Entertainment pulled out to focus on the U.S.
Oshidori International Holdings Limited. (Stock Code: 622.HK or “Oshidori”) is principally engaged in financial services, including securities brokerage, investment advisory, corporate finance advisory, money lending and asset management as well as the proprietary trading.
