Genting fails to win Canadian gaming concession bid

The Genting Group reportedly failed in its bid to secure a casino concession in Canada, according to UOB Kay Hian Malaysian Research, reported by The Star Malaysia.

Instead, Great Canadian Gaming Corp. and Brookfield Business Partners LP was chosen by the Ontario Lottery and Gaming Corp. to run its casinos in the Greater Toronto area.

According to the research house, Genting Group was one of the bidders going for the gaming concession.

The deal allows the winning bidders to have the exclusive right to the casinos for a minimum of 22 years.

“Following this latest development, it implies that Genting Group would have lost the opportunity to venture into Canadian territory,” it wrote in a research note.