International edition
September 22, 2020

Left company in 2012

Former Berjaya boss to seek casino license application in Malaysia

Former Berjaya boss to seek casino license application in Malaysia
Berjaya Group founder and billionaire tycoon Tan Sri Vincent Tan may submit a fresh application for a licence to operate a casino in Malaysia and break the monopoly of Genting Malaysia Bhd.
Malaysia | 12/02/2016

Berjaya Group founder and billionaire tycoon Tan Sri Vincent Tan may submit a fresh application for a licence to operate a casino in Malaysia and break the monopoly of Genting Malaysia Bhd.

T

an, who relinquished his position as chairman of Berjaya Corp Bhd in early 2012, said Malaysia should have more than one casino operated by different parties to give locals and tourists more options.

A second casino would generate more income for the government and accelerate growth in several sectors, including tourism and hospitality, he said.

Tan had applied for a licence to operate a casino at Berjaya Hills Resort in Pahang more than 12 years ago but it was rejected amid protests from some quarters

Berjaya Hills is home to Colmar Tropicale, the Chateau Spa and Organic Wellness Resort, a golf and country club and other recreational facilities. The resort has a permit to operate slot machines.

Business Times reported in 2014 that Tan might re-apply for the gaming licence.

He had planned to invest RM3 billion initially to set up a gaming complex at Berjaya Hills.

Tan said in 2014 he was prepared to pump in money and bring in investors to help develop the complex, which would include a gaming centre, indoor and outdoor theme parks, food outlets, a retail mall, hotels, a convention centre and holiday homes.

He had also planned to employ about 10,000 locals to run the complex while the project would benefit Malaysia in terms of foreign exchange gain and economic spillovers.

"The government should give us the licence as we are investing and creating jobs for the people.

Why give Genting the monopoly for 50 to 60 years?

"We are in the lottery business and we never had a monopoly. The pie for the casino business is big enough for us to share," said Tan

Tan was here yesterday for the official opening of Four Seasons Hotel and Hotel Residences Kyoto.

Analysts polled by Business Times said the government might grant Berjaya a casino licence to strengthen the economy and increase government coffers.

"There is a possibility as Berjaya is already operating a lottery business, but we don't expect the licence to be granted so soon," said an analyst who declined to be named.

Bursa Malaysia-listed Genting, whose reach extends beyond gaming to hotel operations, oil and gas, palm oil production and cruise lines, among others, is the most dominant player in the Asian gambling sector outside of Macau.

 

 

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook