Malaysia

Analysts in Malaysia have mooted a possible rise in casino taxes in next year's budget, which would impact Genting's earnings.  

Profits for lottery operator  Berjaya Sports Toto Bhd. slipped 11.7 percent for the quarter ended July 31 from a year earlier to 101.3 million ringgit ($31 million) as revenue declined 1.4 percent to 887.1 million ringgit. The company is moving forward with listing some of its assets in Singapore through Sports Toto Malaysia Trust.

Khairy Jamaluddin, youth and sports minister, said that "the majority of Malaysians are morally not ready for sports betting" in an interview with sports247.my.

Gaming revenues from Malaysia, the US and the UK rose at similar rates, boosting leisure and hospitality revenues for Genting Malaysia Bhd.

Mohd Ali Rustam, former chief minister of Malacca, called for the closure of Resorts World Genting, the flagship casino resort of Genting Group

and Malaysia's only legal casino, calling it a source of social problems and crime. Ali Rustam, who this week announced his candidacy to return as vice president of the ruling  United Malays National Organisation, said the government didn't need the casino's tax revenues and minimized its economic contributions.

Penang police arrested 12 people in a raid on an underground casino in Georgetown. Police said they believe the casino, which they monitored for three days before approaching at 2am, had been in operation for a few months in an abandoned auto workshop surrounded by bushes and behind a stream, with several spotters with walkie-talkies stationed to head off the curious. The police received a tip about the casino, where it is believed patrons bet up to 450,000 ringgit ($136,000) a session.

 

Thirty-seven people were killed in Malaysia's worst ever road accident when a public bus from the Genting Highlands casino resort complex plunged into a ravine as it headed down a steep road toward Kuala Lumpur. The driver was among those killed on the bus, which carried 49 passengers. The passengers included many foreigners, with the 16 survivors including seven Malaysians, four Bangladeshis, three Indonesians, a Thai and a Korean. Two Indians died last year when their tour bus overturned on the way back from Genting Highlands.

 

 

Revenues for Natural Avenue Sdn. Bhd., the Sarawak lottery operator, rose about 2 percent in the second quarter to RM$236.9 million ($72 million). The unit of Berjaya Assets Bhd. reported a profit of RM$30.9 million, down from a year earlier due to higher prize payouts.

Sports Toto Malaysia Sdn. Bhd., an affiliated lottery operator, plans to move forward with a S$300 million-S$500 million ($235 million-$392 million) initial public offering as a business trust in Singapore by November.

 

 

Johor police arrested 1,351 people for illegal gambling and seized 8,812 gambling machines in the course of 3,294 raids on cyber cafes and other outlets in the first seven months of the year, according to Abdul Latiff Bandi, state executive councillor for housing and local government. He told state legislators that Johor would no longer issue or renew licenses for family entertainment centers and revoke those breaching licensing conditions.

Sabah police have been busy raiding illegal cyber gambling cafes. Police conducted 15 raids during July in Penampang and Putatan, arresting 57 people and seizing 351 computers. In Kota Kinabalu, police detained 23 people in 10 raids, confiscating 248 computers. Offshore on Labuan island, police arrested 24 people in six raids, taking away 79 computers.

 

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