Malaysian government not likely to increase gaming taxes

There is little chance for the Malaysian government to increase gaming taxes for casino and lottery options, according to AmBank group chief economist Anthony Dass.

In a 2018 Budget Preview, Dass said he believes Genting Malaysia scored some goodwill with the government by proposing to spend around RM10 billion in the Genting Integrated Tourism Plan (GITP) at Resorts World Genting.

Under the first phase of GITP, Genting Malaysia will introduce the first-ever world class branded Twentieth Century Fox World theme park.

The second phase will include additional luxury hotels, with the 10-year master plan including the development, expansion, enhancement and refurbishment of hotels, theme parks and infrastructure at Resorts World Genting.

More news from this jurisdiction

MalaysiaTuesday, Jan 09, 2018

With the GITP expansion plan expected to start bearing fruit this year, 2018 should be a strong year for Genting Malaysia Bhd, say analysts.

Malaysia, South East AsiaMonday, Jan 08, 2018

RGB International Bhd says it is expecting its turnover to increase by RM50 million this year as a result of a number of concessions and leasing deals secured over the last two years.

MalaysiaTuesday, Dec 19, 2017

Berjaya Sports Toto said Q2 revenue fell almost 5 percent, dragged down by a weak performance at its H.R. Owen car sales unit and International Lottery & Totalizator Systems business.

MalaysiaFriday, Dec 15, 2017

Malaysia’s Resorts World Genting will open a Zouk Genting nightclub in January as part of its ongoing efforts to revamp the resort and improve its entertainment offerings.

Malaysia, IndiaWednesday, Dec 13, 2017

Resorts World Genting is expecting the opening of the Twentieth Century Fox World theme park to drive up the number of Indian visitors to the resort.

MalaysiaFriday, Dec 08, 2017

Malaysian company MQ Technology Bhd is seeking shareholder approval to diversify into gaming related businesses, according to a recent filing to Bursa Malaysia.

MalaysiaMonday, Dec 04, 2017

Casino supplier RGB International saw its 17Q3 revenue drop 35.2 percent, while profit remained flat year-on-year.