Success for Genting Cruise Line as it Makes its Maiden Voyage to Japan
Genting Dream Casinos, one of Genting Group’s new ventures, embarked on its maiden voyage to Okinawa, Japan. The cruise liner, which is owned by the Malaysian gaming conglomerate, first set sail last year in November. Within a few months, the cruise had reached Japan for the first time.
Genting Group in Asian Countries
As one of the largest gaming companies in the world, the Genting Group owns and operates various casino resorts all over the world. They are headquartered in Malaysia and of course have casinos in their home country. They also have numerous business ventures in the United States, United Kingdom, Philippines, the Caribbean, South Korea, and other South East Asian countries. Given the economic power house that China has now become, businesses ventures there have proved fruitful. The Genting Group has also successfully opened resorts in the country in recent years. While the company is known for the plethora of land based casinos they own all over the world, the newest investment, hints towards the high seas.
China has enjoyed great economic prosperity over the last few years. In that time, the country has invested time and effort to build up an impressive tourism sector. Therefore, it makes sense that Dream Cruises has a planned stop at a port in the city of Guangzhou as part of their route. Along the way the cruise liner also made stops in Hong Kong and at various other countries along the Pacific Ocean. This including destinations such as Malaysia, Thailand and Indonesia. This year the cruise line has made an addition to that list. The latest docking point on their journey, as mentioned, has become Naha, the capital city of Okinawa.
Representatives from the Genting Group went on to state that besides docking at a number of interesting places, the cruise ship also offers an unmatched level of luxury on board. It provides all the comforts that one associates with authentic Asian hospitality. While the company is best known for the gambling empire it has built around the world, the Genting Dream happens to be a non- gaming vessel!
Genting Dream Casinos, one of Genting Group’s new ventures
Dream Cruises is not the only cruise ship venture by the Genting Group. The company is also the owners of another line of cruise ships, Star Cruises. Star Cruises happen to be the third largest cruise line in the world, just behind Royal Caribbean Cruises and Carnival Cruises.
In December of last year, Japan’s National Diet passed a piece of legislation that authorised the construction of two land based integrated resorts within the borders of the country. This was seen by many as a monumental victory for the gambling community. At the same time, it was definitely a surprise for many. This is because the country has long been known to be against commercial gambling ventures.
Gambling legislation in Japan?
It seems like the main impetus behind the move was to make the country of Japan even more tourism friendly. Prime Minister Shinzo Abe was adamant that gambling should be allowed inside of the country in an effort to increase visitor numbers. According to him, this in turn would undoubtedly have a positive impact on the country’s economy.
Once the legislation was approved, casino companies from around the globe began working on their proposals. Considered as the holy grail of untapped gambling markets, heavy hitters such as MGM, Las Vegas Sands, Galaxy Entertainment, Melco Crown Entertainment have all started developing their pitches. These pitches will no doubt be to the tune of millions of dollars and will be worth every penny if they are to acquire the coveted casino licenses.
These massive gambling empires are looking for local expertise and have hyped their colossal investments in hopes of luring the regulators to their side. The Genting Group is not going after these two land based casino license, but instead going for a completely different approach. Some experts are calling this a far superior tactic than the one that has been employed by so many of their other competitors.
Their strategy is a fairly simple one. Genting has gaming properties across three major continents. They are now operating cruise lines that travel throughout waters of the whole world. Putting the two together would allow them to bring customers to Japan from all over the world.
The regulatory framework is being worked upon by the Diet. They are in process of deciding the exact location for the new casino venues. Along with Osaka and Toya, which have already been named for the two licenses that are up for grabs, Okinawa is likely to be third destination to receive approval for a casino resort. This could mean that they can have a slice of the increased business these new land based casinos would bring to Japan.
It is important to note that Genting is not the only one to have this genius idea. Last year, the North Korean government announced that they were looking for foreign investors to help develop a cruise line. This cruise line would bring passengers to Mount Kumgang. Kumgang is an important destination and one of the few places where tourists are sometimes allowed to enter.
The Kumgang Special International Tourism Zone is looking for a partner that is willing to invest USD 20 million in a cruise ship. Their brief also stated that the ship should be equipped with facilities to allow 1,000 people to travel safely at sea at a time. Unfortunately, no company has expressed any interest towards this venture as of yet.