![]() ![]() The family’s flagship company, Genting Bhd., said in May its net loss narrowed in the first quarter and predicted international tourism will continue its gradual recovery. Genting Hong Kong Ltd., a cruise operator he controls, filed to wind up the company earlier this year after struggling to pay its debt. Genting’s chairman, Malaysian businessman Lim Kok Thay, oversees a range of businesses that were hit hard by the coronavirus pandemic including theme parks, hotels and restaurants. Any deal for Genting Singapore would require regulatory approvals in the city-state, the people said.Ī spokesperson for MGM declined to comment, while representatives for Genting and its Singapore unit didn’t immediately respond to requests for comment outside regular business hours. There’s no certainty the deliberations will lead to a transaction, and MGM could also resume its pursuit of the company, the people said. Other attractions include the Universal Studios Singapore theme park as well as an aquarium, water park, restaurants and shops. It features more than 550 gaming tables and over 2,400 slot machines and other electronic games, according to its website. ![]() Genting Singapore operates Resorts World Sentosa, a 49-hectare (490,000 square-meter) destination located on an island off Singapore’s southern coast. Genting Bhd., the Malaysian conglomerate backed by the Lim family, owns 53% of the business, data compiled by Bloomberg show. Shares of Genting Singapore have fallen 3.2% this year, giving the company a market value of about S$9.1 billion ($6.4 billion). 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. 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. (Bloomberg) - Genting Singapore Ltd., 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.
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