International edition
June 22, 2021

The casino in Singapore is seen as one of the group's key earnings drivers in the future

Malaysian Genting says it is looking at United States opportunities

(Malaysia).- Malaysian gaming group Genting Bhd is looking at a number of opportunities in the US, Lim Kok Thay, Genting's chairman, told reporters. "There are a number of opportunities that would offer good value for our invesmtments," he said, declining to indentify any potential targets at a company meeting.

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Our funding needs are taken care of, we don't have any need for any fund raising at the moment," Genting Chairman said. He pointed that one of his family companies, Kien Huat Realty, had made a loan to the Mashpee Wampanoag tribe who want to set up a casino in Massachusetts and that it was not Genting that had done so.

Some market participants had speculated that Genting had been trying to raise funds to help the tribe if authorities there pass a single gaming bill to legalise casino gambling in the state this year.

Genting, Southeast Asia's largest gaming company, also has substantial interests in oil palm plantations, power generation and property development which it deems as non-core businesses for sale at the right price.

Genting, valued at us$ 8.4 billion, will open the first part of its us$ 4.4 billion casino-resort in Singapore today, beginning with four hotels. The casino in Singapore is seen as one of the group's key earnings drivers in the future. Genting shares nearly doubled in price last year, outperforming the 45 % rise in the broader market index.

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