Genting sees strong online growth, says U.K. main focus

Genting says its U.K. licensed interactive business will remain the focus for its online gambling push, despite a recent headline grabbing tie up with online gaming company bet365 in New York. Empire Resorts, which is indirectly controlled by Genting, has entered into a 50/50 revenue share deal with bet365 for its Resorts World Catskill property. The operator plans to launch a bet365-branded sportsbook in New York should the state opt to regulate sports-betting after PASPA was overturned in May this year. The accord will also see the online company take a 5 percent stake in Empire Resorts. Genting controls Empire via the 88 percent majority stake of the Lim family investment vehicle Kien Huat Realty. In the same announcement, Kien Huat said it had agreed to buy $126 million of convertible preferred shares in the company Analysts in the UK speculated that the New York move might be seen as part of a...

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