Genting Singapore draws takeover interest

Bloomberg
Bloomberg7/15/2022 09:26 AM GMT+08  • 3 min read
Genting Singapore draws takeover interest
Genting Singapore is one of Singapore’s two casino operators. Photo: Samuel Isaac Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.