Genting Singapore one of the city-state’s two casino operators, is attracting takeover interest as tourists start coming back to the Asian travel hub, people with knowledge of the matter said.
US rival MGM Resorts International recently approached the firm’s controlling shareholder, the billionaire Lim family, to express its interest in a deal, the people said. While those discussions didn’t lead to an agreement, other potential suitors have also been in the preliminary stages of studying Genting Singapore, said the people, who asked not to be identified because the information is private.
Shares of Genting Singapore rose as much as 4% in early trading, the most since March 24. The company has a market value of about $9.3 billion. Genting Bhd., the Malaysian conglomerate backed by the Lim family, owns 53% of the business, data compiled by Bloomberg show.