Malaysia

Malaysian authorities have noted that there are no plans to legalize online gambling, saying that the people have enough means to gamble as it is.

Penang Chief Minister Lim Guan Eng has criticized the Penang Front Party (PFP) for vowing to establish a casino in the state.

Genting Malaysia said it has sold its 16.87 percent stake in its sister company Genting Hong Kong for about $415 million.

Genting Malaysia beat expectations with its Q2 results, prompting renewed optimism in the investment community over the group’s prospects and expansion plans.

Since entering the US market in 2011 with the launch of Resorts World New York City, Genting Group has made a number of major investments in the country, indicative of an operator intent on becoming a major player in the market.

 

Since entering the US market in 2011 with the launch of Resorts World New York City, Genting Group has made a number of major investments in the country, indicative of an operator intent on becoming a major player in the market. These projects add up to a serious statement of intent in the U.S. from Genting Malaysia Berhad, the subsidiary which runs the Group’s U.S. casino business, even if a number of question marks remain over the particulars of its various interests.

 

 



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At least one investment Bank is understood to have pitched Malaysia’s Genting Group on a potential block trade of its stake in Star Entertainment Group this week.

Over 70 individuals were arrested last week following a series of raids throughout Borneo, targeting illegal gambling premises and illegal character lottery.

Casino operator Genting Malaysia has reported solid performance in the second quarter of 2016, helped by strong results in its UK casino operations, according to the firm’s announcement on Thursday.

The recent European Championships saw a dramatic increase in betting volumes across Asia, but also raised a series of questions for both operators and suppliers as to how best to serve sports bettors in the region.

The recent European Championships saw a dramatic increase in betting volumes across Asia, but also raised a series of questions for both operators and suppliers as to how best to serve sports bettors in the region. Experts say volumes were up about 50 percent on the prior tournament in 2012 and European sports book operators are pushing hard to expand the range of bets on offer.



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Genting Malaysia, the country’s only casino operator, is ramping up preparation works as it prepares to begin rolling out the frst stages of its RM10.38 billion ($2.46 billion) Genting Integrated Tourism Plan for the second half of this year.

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