Oshidori International Holdings Ltd says it plans to utilize what it calls “tactical and/or strategic investments” to prepare its pursuit of an integrated license in Nagasaki, Japan, after the company revealed record profits in 2020.
Oshidori, the parent company of Japan subsidiary Oshidori International Development Ltd, announced on Tuesday a FY20 profit of HK$2.82 billion (US$363 million) for FY20, described as the “highest profit ever since its listing.”
It also revealed that the tactical and/or strategical investments segment was entirely responsible for the positive result with profit of HK$3.20 billion (US$412 million), reversing a segment loss of HK$311.8 million (US$40 million) in 2019. The segment revolves around a professional investment team that holds Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities), and Type 9 (asset management) licenses under Hong Kong’s Securities and Futures Ordinance, Oshidori said, and aims to build “a successful portfolio of investments that is resilient, sound and of value to the shareholders of the Company.”
Oshidori’s Japan IR bid, in partnership with US tribal casino operator Mohegan Gaming & Entertainment, falls into this segment with the company stating Tuesday that it is confident of winning a license in Nagasaki.
The Oshidori Consortium, as the partnership is known, was one of three candidates selected by Nagasaki prefecture earlier this month to proceed to the next stage of the RFP process.
“It is anticipated that Nagasaki Prefecture will select their partner in the third quarter of 2021 and the Company remains optimistic of the prospect of winning this bid and subsequently the license at the national level,” Oshidori said.
“The Company and [Mohegan] are not only aiming at collaborating in the development of a world-class integrated resort but also in creating a dynamic community for Nagasaki to become a premier travel destination and a sought-after residential location. Furthermore, the development of the integrated resort will allow the Group to contribute to the continual prosperity of the region.
“The Group will fully devote ourselves to become an integrated resort operator for the Nagasaki Prefecture.”
RelatedPosts
