Genting Highlands facelift to revitalize revenues

    Published in: Latest Intelligence Genting Group has been spending billions of dollars to develop new casino resorts in places ranging from Manila to the Bahamas. The one market that has been so far left behind is, arguably, its home country of Malaysia. That is set to change as Lim Kok Thay, chairman, has announced that Genting will invest around $1 billion to upgrade the group’s original stronghold at Resorts World Genting Highlands. “We’ve been investing substantial amounts overseas and it’s now a good time to invest here, back home,” he said. “We’ve received some feedback on how people would like things to be improved and we will do our best.” Though Genting’s gaming empire extends to the U.K. and U.S., Malaysia, primarily Genting Highlands still accounted for 36.5 percent of the group’s M$15 billion ($4.7 billion) in leisure and hospitality revenue last year and 41.1 percent of the segment’s M$6.3 billion in pretax...

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