HK asset firm declines comment

HK asset firm declines comment

The asset firm declined to comment on the reports

PAG, a Hong Kong-based private asset management firm, has been linked in several Japanese media reports on Friday to a possible purchase of the Huis Ten Bosch theme park, adjacent to the site for a casino resort in Nagasaki prefecture.

The mention of GGRAsia’s name in relation to Huis Ten Bosch was brought to the attention of PAG on Monday. The PAG did not have any comment on the reports.

The operator of the Huis Ten Bosch amusement park and the governments of Nagasaki Prefecture and Sasebo City have agreed to designate part of the amusement park as a candidate site for an integrated resort.

The site earmarked for the IR has public-road access that is separate from the theme park itself, according to GGRAsia’s Japan correspondent.

Japan’s national government received Nagasaki’s proposal for a casino resort in late April. Casinos Austria International is a unit of its private-sector partner.

Osaka prefecture and city are the only other possibilities for a Japanese IR. Under liberalisation arrangements, up to three such facilities were to have been permitted.

The national government is expected to make a decision on the two applications by the autumn, according to GGRAsia’s correspondent.

There are separate civil groups in Osaka and Nagasaki that are challenging aspects of the casino resort policy.

The Huis Ten Bosch theme park is operated by a subsidiary of a Japanese company. The facility replicates famous buildings and architecture from the Netherlands, but in a semi-rural Japanese setting.

It had been reported last week that the HIS Co side was considering a sell-off.

On Friday, several Japanese media outlets said that PAG was a suitor, and that the current controllers of the site were considering disposing of the site due to losses caused by the Covid-19 Pandemic. Universal Studios Japan, a theme park based in Osaka, was previously an investor in PAG.

The theme park is owned by Huis Ten Bosch Co., according to the news outlet.

Summary:

Hong Kong-based private asset management firm PAG has declined to comment on reports that it is in talks to buy Japan’s Huis Ten Bosch theme park. GGRAsia approached PAG on Monday regarding the mention of its name in relation to Huis Ten Bosch. In 2019, the operator of Huis Ten Bosch and the governments of Nagasaki Prefecture and Sasebo City announced an agreement to designate part of the park as a candidate site.