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Daily Asia Gaming eBrief: Genting with $1.06B investment in energy sector

Good Morning. From gaming to energy. Genting Bhd, the largest casino conglomerate in Southeast Asia, is expanding its presence in the non-gaming sector with a RM5 billion ($1.06 billion) investment plan in the energy industry. The company inked two deals with Chinese power and oil-and-gas firms, marking a significant expansion into energy generation. Still, Genting’s President emphasized that these investments do not signify a departure from the company’s core gaming business. Meanwhile, Philippines labor authorities have warned that approximately 22,000 Filipinos employed by legal POGOs in Metro Manila may face unemployment if the online gaming companies are banned in the country.

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Genting to remain committed to core gaming business

Genting Bhd, the largest casino conglomerate in Southeast Asia, is expanding its presence in the non-gaming sector with a RM5 billion ($1.06 billion) investment plan in the energy industry. The company has signed two deals with Chinese firms – a 49 percent stake acquisition in a gas power plant and a $1 billion contract to construct a floating liquefied natural gas facility in Indonesia. However, Genting’s management emphasizes that these investments do not signify a departure from the company’s core gaming business, which remains its mainstay. 


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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