Genting Malaysia Berhad has announced that it will be offering $525 million in 7.25 percent senior unsecured notes due 2029 via its wholly owned US subsidiaries Genting New York LLC and GENNY Capital Inc.

Genting Malaysia managed to more than double its profit in the second quarter of the year, topping RM62.7 million ($14.5 million), as revenue across its various properties increased during the period.

Malaysian authorities claimed to have successfully thwarted a significant money laundering scheme linked to an illegal online gaming operator.

Gambling websites constituted the majority of sites blocked by the Malaysian Communications and Multimedia Commission (MCMC) from January of 2022 to August of this year.

Several gambling outlets in the Malaysian state of Kedah have managed to overturn the local government's ban on their operations.

Genting Malaysia Bhd's US operations are expected to deliver stronger earnings in the second quarter of 2024, a Phillip Capital Research dispatch states.

The Malaysia and Singapore gaming sectors are poised for a robust recovery in the second half of 2024, driven by increased tourist arrivals and regulatory developments, Hong Leong Investment Bank Research (HLIB Research) estimates.

The online gaming sector has seen expansive growth in recent years, with many operators wishing to move into the Asian marketplace. One such is sportsbook and iGaming provider GR8 Tech, which is finding that its key markets are actually India, the Philippines, Malaysia and Korea.

In a joint transnational operation, Singapore and Malaysian police forces have foiled an organized criminal group believed to be behind illegal remote betting activities.

Malaysia's internet regulator has clarified that 72 percent of online content removals were due to gambling and scam promotions.