{"id":11504,"date":"2025-11-18T14:42:54","date_gmt":"2025-11-18T14:42:54","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=11504"},"modified":"2025-11-18T14:43:29","modified_gmt":"2025-11-18T14:43:29","slug":"genting-bhd-takeover-of-genting-malaysia-faces-uncertainty","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2025\/11\/18\/genting-bhd-takeover-of-genting-malaysia-faces-uncertainty\/","title":{"rendered":"Genting Bhd Takeover of Genting Malaysia Faces Uncertainty"},"content":{"rendered":"\n<p><strong>Genting Bhd\u2019s <\/strong>efforts to acquire <strong>Genting Malaysia <\/strong>may face new risks following recommendations published by <strong>Kenanga Investment Bank<\/strong>, the independent adviser appointed to evaluate the offer.<\/p>\n\n\n\n<p>Although the company has increased its stake to 57%, triggering an unconditional mandatory takeover offer, the independent adviser\u2019s findings cast serious doubts on the likelihood of the deal progressing to a full acquisition.<\/p>\n\n\n\n<p>Kenanga Investment Bank urged minority shareholders to reject the offer, stating that the MYR 2.35 ($0.56) per share proposal is \u201cnot fair\u201d and \u201cnot reasonable.\u201d The bank argued that shareholders would be better served by exploring opportunities in the open market.<\/p>\n\n\n\n<p>According to the adviser, the fair value of Genting Malaysia\u2019s shares lies between MYR 3.48 and MYR 3.77 ($0.83 \u2013 $0.90) per share, meaning the MYR 2.35 ($0.56) offer undervalues the company by 32.5\u201337.7%.<\/p>\n\n\n\n<p>A key motivating factor for Genting Bhd remains the opportunity to expand its business in New York, as the company seeks to optimise its capital structure.<\/p>\n\n\n\n<p>The acquisition was initially planned to be completed by early December to align with the New York licensing process. However, it remains unclear whether the latest update will affect the execution of these plans.<\/p>\n\n\n\n<p>Genting already holds a strong position in the New York market through its <strong>Resorts World <\/strong>brand, the largest venue in the state with exclusively slot machines. Obtaining a new license would allow the company to expand its offerings and provide a full casino experience, including table games.<\/p>\n\n\n\n<p>The group also operates a Video Lottery Terminal (VLT) Parlour based in Queens, located at the Aqueduct Racetrack. With this presence, the company is considered one of the leading contenders for successful expansion and obtaining a full casino license in the state.<\/p>\n\n\n\n<p>Currently, the company operates over 5,800 video terminals, with the proposed expansion valued at approximately $5.5 billion.<\/p>\n\n\n\n<p>Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Genting Bhd\u2019s efforts to acquire Genting Malaysia may face new risks following recommendations published by Kenanga Investment Bank, the independent adviser appointed to evaluate the offer. Although the company has increased its stake to 57%, triggering an unconditional mandatory takeover offer, the independent adviser\u2019s findings cast serious doubts on the likelihood of the deal progressing [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":10356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[3843,4691,50,598,46,14504,10139,2365,14639,335,1444,9276,206,1308],"class_list":["post-11504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-acquisition","tag-business-expansion","tag-casino","tag-deal","tag-gambling","tag-genting-bhd","tag-genting-malaysia","tag-investments","tag-kenanga-investment-bank","tag-licensing","tag-new-york","tag-resorts-world","tag-slot-machines","tag-table-games"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - 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