Genting Singapore’s Macau unit to be dissolved

Genting Singapore announced on Friday that its indirect wholly-owned Macau subsidiary, Genting Star (Macau) Limited (GSML) has been dissolved and liquidated.

According to an announcement from the casino operator, the liquidation of the Macau subsidiary “is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 31 December 2016.”

Genting Group first acquired Genting Star (Macau) and its parent company, Genting Star Ltd in September 2005.

At the time, Genting Star and the Genting Group were to be involved in the development of a casino hotel in Macau, however, Genting Group pulled out of the gaming venue after concerns from Singapore authorities.

Genting Star had not been involved in any other projects in Macau since.