Tag Archives Genting

Optimistic fourth-quarter prediction for Genting Malaysia Berhad

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Asian casino operator Genting Malaysia Berhad is reportedly set to see its business prospects improve beginning from the fourth quarter although its various subsidiaries could face a much longer road to complete recovery. According to a report from Inside Asian Gaming, this is the opinion of international brokerage Nomura Securities Company Limited and was ...

Genting Malaysia Berhad bailout for Resorts World Catskills

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Minority shareholders in Asian casino operator Genting Malaysia Berhad are reportedly unlikely to be pleased with the company’s recent decision to pump another $150 million into its loss-making Empire Resorts Incorporated subordinate. According to a report from GGRAsia, this is the opinion of international brokerage Nomura Securities Company Limited after the Malaysian firm revealed ...

Genting Singapore to collaborate with Canon on advanced IR technologies

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Genting Malaysia Berhad (GENM:Bursa Malays) subsidiary Genting Singapore Limited (SGX: G13), both under the Genting Group umbrella, has entered into an agreement with Japanese multinational corporation Canon Inc. (7751:Tokyo) that will see the two companies establish a partnership relating to “cutting-edge technologies, products and solutions” for a world-class IR (integrated resort). Included in the ‘basic ...

Post-pandemic visitation levels on the rise at Resorts World Genting

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Asian casino operator Genting Malaysia Berhad has reportedly seen visitation levels at the gambling-friendly venues within its Resorts World Genting development recover recently to reach just over 50% of their pre-pandemic intensities. According to a report from Inside Asian Gaming, the sprawling Malaysian property was completely shuttered for an almost 13-week period from March ...

Resorts World Genting re-opening its casinos following coronavirus closures

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Asian casino operator Genting Malaysia Berhad has reportedly announced that it will be partially resuming gambling entertainment within its Resorts World Genting development from tomorrow following an over 13-week coronavirus-related shutdown. According to a report from GGRAsia, the Kuala Lumpur-listed firm detailed that members of its Genting Rewards loyalty scheme will be able to ...

Genting Group mulling possible permanent closure of three UK casinos

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In the United Kingdom, three Genting Casino properties, Torquay, Bristol and possibly Margate, are expected to remain closed when COVID-19 operating restrictions are lifted as the company continues to deal with “unprecedented challenges” caused by the coronavirus pandemic. Furthermore, widespread job losses are expected across all 32 of the operator’s UK venues. The arm ...

Coronavirus downturn prompts wage cuts from Genting Singapore Limited

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The Singapore-headquartered arm of Asian casino giant Genting Malaysia Berhad has announced that it will be reducing the salaries of its senior staff as a way to cut costs in light of the ‘massive disruption to the travel and tourism industries’ caused by the recent coronavirus outbreak. Genting Singapore Limited used an official Tuesday ...

Genting Malaysia Berhad records a disappointing fourth quarter

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Asian casino operator Genting Malaysia Berhad has reportedly released its unaudited financial results for the final three months of 2019 showing that its net profit had crashed by almost 60% year-on-year to about $66.9 million as aggregated revenues declined by 2.6% to slightly over $578.9 million. According to reports from Inside Asian Gaming and ...

Genting Singapore shareholders back firm’s Japanese casino initiative

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Shareholders for the Genting Singapore subsidiary of Asian gambling giant Genting Malaysia Berhad have reportedly overwhelmingly voted to support the firm’s attempt at securing one of a trio of coming Japanese integrated casino resort licenses. According to a report from Inside Asian Gaming, the Singapore-headquartered operator held an extraordinary general meeting yesterday at which ...

Genting opens doors to new South Kensington property Forty Five Kensington

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Genting has opened a new venue in South Kensington, after spending millions on the refurbishment project. Forty Five Kensington is now operational, the former home of Genting Casino Cromwell Mint. The property offers visitors a technologically advanced casino experience along with fine dining. Rebrand: The rebrand of the property involved a complete makeover of ...

Genting Malaysia Berhad initiates Empire Resorts Incorporated purchase

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Asian casino operator, Genting Malaysia Berhad, has reportedly announced the start of the $128.6 million deal that is due to see it fully acquire smaller American counterpart Empire Resorts Incorporated. According to a report from Inside Asian Gaming, the Malaysian firm used an official filing to detail that the purchase is set to involve ...

Genting Casinos to purchase LeoVegas subsidiary Authentic Gaming in “milestone” deal

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International leisure and entertainment business, Genting, has agreed a deal that will see it acquire LeoVegas’ subsidiary Authentic Gaming for EUR 15 m ($16.7m) on a “debt-free” basis, with the sales price representing a return of better than 100 percent during a period of just more than three years. The Malta-based live casino firm ...

GentingBet expands live casino offering with launch of Baccarat Live via Genting Casino London Chinatown

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GentingBet is now offering more to online customers via a new game launch at Genting Casino London Chinatown. Baccarat Live has now launched, adding to the live casino games portfolio of the provider. Players can now enjoy an immersive experience via a land-based venue from the comfort of home. New Gaming Option: With Baccarat ...

Genting Singapore Limited second-quarter results draw analyst concern

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A trio of brokerages has reportedly expressed unease over a recent revelation from Asian casino operator, Genting Singapore Limited, that its second-quarter net profit had dropped by some 5.2% year-on-year to approximately $122.3 million. According to a report, the Singapore-listed firm detailed that its adjusted quarterly earnings before interest, taxation, depreciation and amortization would ...

Genting Malaysia Berhad resolves lawsuit against The Walt Disney Company

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Asian casino operator Genting Malaysia Berhad has reportedly announced that it has reached a settlement that has ‘fully resolved’ the $1 billion lawsuit it filed against The Walt Disney Company late last year. Park progress: According to a Friday report from GGRAsia, the Kuala Lumpur-listed firm used an official filing to detail that the resolution ...