Police in Sabah, Malaysia, have arrested 23 Chinese nationals which they say were operating an illegal online gambling syndicate out of three apartments being used as call centers.
On Wednesday, S&P Global Ratings lowered its long-term issuer credit rating on Genting Malaysia to 'BBB+' from 'A-', citing the firm’s aggressive expansion plans that are increasing leverage and weakening cash flow.
The Malaysian state of Terengganu, governed by the Malaysian Islamic Party, is reportedly mulling a relaxation of its bans on gambling and alcohol in order to attract visits from cruise ships.
Genting Malaysia is planning a soft opening of its theme park in Q3, 2020, though the park will be more expensive than anticipated.
Asian governments are expected to eventually regulate online gaming, though lack of legislation is still a major factor holding back potential.