Malaysia

The Malaysian government passed a Tourism Tax Bill in a mammoth session ending Thursday morning, which analysts say is likely to weigh on the country’s hotel industry and the operator of the only integrated resort, Genting Malaysia.

Malaysian authorities have been intensifying operations aimed at illegal gambling, with a focus on illegal four-digit (4D) public lottery and cyber gambling.

RGB International Bhd has a target to deliver around US$40 million worth of gaming machines in 2017.

Regulators, operators and sports bodies need to improve international cooperation if they are effectively to tackle match fixing, which experts say is increasingly centred on Asia.

Genting Malaysia, the country’s only casino operator, reported robust results for 2016, despite disruptions from ongoing construction to upgrade its resort and challenging economic conditions at home.

 

Genting Malaysia may be another beneficiary of China’s decision to restrict travel to South Korea as it rolls out the expansion of its Resorts World Genting resort, local media cited a Credit Suisse report as saying.

Interblock has recently completed the installation of a 50-seat Stadium at Sky Casino, a new casino to Resorts World Genting Malaysia scheduled to open on February 28.

Genting Bhd, the Malaysian conglomerate that controls the country’s only casino operator, as well as Genting Singapore and properties in the U.S., Bahamas and the U.K., offers a good value entry point to Association of Southeast Asian Nation gaming markets, CLSA notes.

The island of Penang is set to enforce a ban on all gaming simulators by the end of 2018.

Genting Malaysia saw its net profit increase four-fold to RM1.7 billion (US$382.8 million) in the fourth quarter ended Dec. 31, 2016, compared to RM 338.6 million in 15Q4.

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