Malaysia-listed conglomerate Genting BHD is building its financial war chest in anticipation of a bidding war for Japan’s casino licenses.

In its 2017 annual report, Genting BHD expressed optimism that the long-awaited Japan Integrated Resorts (IR) Implementation Bill will be approved in this year’s Diet session. This reason alone has prompted Genting to “diligently” prepare for the much-coveted gaming licenses in Japan, according to the company.

“Many global gaming operators have pronounced their very keen interest to bid, and Genting Singapore will be facing fierce competition for the limited number of licenses,” Genting said in a filing before the Bursa Malaysia on Monday.

Genting’s annual report showed that its Genting Singapore subsidiary raised a total principal amount of JPY20 billion (US$177 million) in October 2017 via publicly-offered Samurai bonds.