Genting Group

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Genting Group
云顶集团
Yúndǐng Jítuán
Public company
Industry Tourism, resorts, gaming, plantations
Founded 1965
Headquarters Kuala Lumpur, Malaysia
Key people
 Late Tan Sri Lim Goh Tong (Founder), Tan Sri Lim Kok Thay (CEO), Tun Mohammed Hanif bin Omar (Deputy chairman)
Revenue 17 billion MYR (December 2013)
Number of employees
 58 000 globally
Parent Kien Huat Realty Sdn Bhd
Slogan Growing from Strength to Strength
Website www.genting.com

Genting Group is a Malaysian conglomerate. It comprises four listed entities (namely holding company Genting Berhad (MYX:3182) and its member companies Genting Malaysia Berhad(MYX:4715), Genting Plantations Berhad(MYX:2291), Genting Singapore Plc(SGX:G13) and Genting Hong Kong Limited(HKEX:678).

The Genting Group was founded in 1965 by the late Malaysian entrepreneur Tan Sri Lim Goh Tong. The Genting Group is headed by Tan Sri Lim Kok Thay, the chairman and Chief Executive, who joined the group in 1976. The group has over 41 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world, including the Americas, Australia, Malaysia, the Philippines, Singapore and United Kingdom. It has been voted Malaysia's leading corporation and one of Asia's best managed multinationals. The group's pioneer integrated resort is Resorts World Genting, formerly known as Genting Highlands Resort. The main attractions of the resort are its casino, theme park, concert shows, food & beverage and retail shopping. It is one of the most popular tourist destinations in Malaysia.

Resorts World Genting, Malaysia.

From its initial leisure and hospitality activities, the Genting Group has since expanded and diversified into other activities including plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology. The Genting Group, via Tan Sri Lim Kok Thay is the founder of Star Cruises the third largest cruise liner company in the world and largest cruise liner in Asia. Star Cruises, which was renamed Genting Hong Kong in 2009, is listed on Singapore and Hong Kong Stock Exchange. The Genting Group currently owns about 19.9% of Genting Hong Kong.

The Group employs over 58,000 globally and possesses 4,500 hectares (11,000 acres) of prime resort land and 133,500 hectares (330,000 acres) of land for plantation. The group's combined market capitalisation amounted to US$46 billion as of 31 May 2011.[1] Genting Group has assets totalling US$16.6 billion, as at 31 December 2010.

Group structure

Genting Berhad is the parent company and holding company that manages investment in other companies. Headquarters in Malaysia. Listed on Bursa Malaysia, with market capitalisation of US$9.4 billion as at 31 December 2014.[1]

  • Genting Singapore PLC – (52.5% owned by Genting Berhad) – investment holding company. Listed on Singapore Stock Exchange. Market Capitalisation is US$9.9 billion as of 31 December 2014.[1]
  • Genting Malaysia Berhad – (49.3% owned by Genting Berhad) – It is involved leisure and hospitality, gaming and entertainment which includes its casino businesses in the Americas and United Kingdom, Genting UK and Genting New York. Genting UK is the largest casino operator in the United Kingdom.[2] Listed on Bursa Malaysia with market capitalisation of US$6.6 billion as of 31 December 2014.[1]
  • Genting Hong Kong Limited (17.8% owned by Genting Berhad) – formerly known as Star Cruises Limited, is a leading global leisure, entertainment and hospitality enterprise, with core competences in both land and sea-based businesses. Listed in Hong Kong and Singapore stock exchange with US$2.8 billion market capitalisation as of 31 December 2014.[1]
  • Genting Plantations Berhad (53.8% owned by Genting Berhad) – this is involved in plantations, biotechnology and property, which includes its property arm, Genting Property. Genting Plantations owns 133,000 hectares of land in Malaysia and Indonesia. It is one of the leading and lowest cost palm oil producers in Malaysia.[citation needed] Listed on Bursa Malaysia with US$2.2 billion market capitalisation as of 331 December 2014.[1]
  • Arkana, LTD – is a solely owned US-based subsidiary of Genting Berhad financing Indian gaming developments.[3]
  • Kien Huat Realty – the real estate development and investment entity created by Genting Founder Lim Goh Tong owns 36 percent of Genting Berhad[4] and serves as the US investment arm for casino development project interests.[5]

Diversification and expansion

In December 2006, Genting Group won the bid in obtaining one of two Singapore casino licenses to build an integrated resort, named Resorts World Sentosa, under Genting Singapore.[6] The project requirements includes hotel, gaming, leisure facilities, convention space and retail to create an iconic major tourist attraction for the booming Asian tourism market.

In 2007, Genting Plantations ventured into biotechnology to develop synthetic genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with "Synthetic Genomics".[1]

In July 2007, Genting Group disposed of its paper and packaging business.[1]

In August 2009, Genting Hong Kong opened Resorts World Manila in partnership with Alliance Global Group. It is one of four groups that won approval in 2008 to build hotels and casinos as part of Philippines' US$20 billion Pagcor City development on Manila Bay. [1]

In June 2009, Genting Group supported the capital raising exercise of MGM Mirage. [2]

In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group, as part of a wider 7,000-acre (2,800 ha) integrated township project in the southern state of Johor.[3]

In September 2010, Genting New York won a bid to build a racino at Aqueduct Race Track in New York City, the first step of a planned expansion in the United States.[1] Among the attributes of the plan was providing a diversion for passengers on long stays at John F. Kennedy International Airport.[7] Resorts World New York is scheduled to open by end-2011.

In May 2011, Genting Malaysia purchased 14 acres (5.7 ha) of Biscayne Bay front land surrounding the headquarters of The Miami Herald for US$236 million; The McClatchy Company announced that the Herald and El Nuevo Herald would be moving to another location by 2013.[8] The land is to be used for a mixed use development, Resorts World Miami, that would include hotels, restaurants, residences, retail shops and a convention centre. Genting Group sees the Miami land acquisition as an integral step in its pursuit of expanding internationally in the leisure, hospitality and entertainment industry.[citation needed]

In June 2011, Genting UK was awarded a casino licence for a 55,000 sq-meter mixed-use facility in Birmingham. [4] The development is in partnership with the NEC Group.

In March 2013, Genting bought the site of Echelon Place, an unfinished casino resort on the Las Vegas Strip, and announced plans for Resorts World Las Vegas.[9]

In May 2015, Genting Hong Kong purchased 100% ownership of Crystal Cruises and plans for expansion into river cruising, private jet charters using Boeing 777 aircraft and the new build of three 100,000 GRT mega cruise ships was announced for the brand.

Resort and casino properties

Malaysia

United Kingdom

File:Maximssouthend.jpg
Maxims Casino, Southend.

As of 31 December 2010 Genting Malaysia now owns the largest number of casinos in the UK with 47 casinos:[10]

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  • Resorts World at the NEC, Birmingham
  • Crockfords Club, London
  • The Colony Club, London
  • The Palm Beach Casino, London
  • Maxims Casino Club, London
  • Genting Casino, Bolton
  • Genting Casino, Bournemouth
  • Genting Casino, Brighton
  • Genting Casino, Bristol
  • Genting Casino, Coventry
  • Genting Casino Cromwell Mint, London
  • Genting Casino Edgbaston, Birmingham
  • Genting Casino, Glasgow, Scotland
  • Genting Casino, Leicester
  • Genting Casino, Leith, Scotland
  • Genting Casino, Luton
  • Genting Casino, Margate
  • Genting Casino, Newcastle
  • Genting Casino, Nottingham
  • Genting Casino, Plymouth
  • Genting Casino Renshaw Street, Liverpool
  • Genting Casino, Salford
  • Genting Casino, Torquay
  • Genting Casino York Place, Edinburgh, Scotland
  • Genting Chinatown Casino, Birmingham
  • Genting Chinatown Casino, London
  • Genting Club, Blackpool
  • Genting Club Fountainpark, Edinburgh, Scotland
  • Genting Club, Manchester
  • Genting Club Queen Square, Liverpool
  • Genting Club, Reading
  • Genting Club Riverlights, Derby
  • Genting Club, Sheffield
  • Genting Club, Southport
  • Genting Club Star City, Birmingham
  • Genting Club, Stoke-on-Trent
  • Genting Club Terminus Terrace, Southampton
  • Genting Club, Wirral
  • Genting Electric, Luton
  • Genting Electric, Portsmouth
  • Genting Electric Westcliff, Southend
  • Maxims Casino, Southend

Genting Group also own The Park Lane Mews Hotel in Mayfair, London. Genting Group also has a hand in Casino Of The First Light Taunton, MA.

Singapore

Hong Kong

  • Genting Hong Kong is headquartered in Hong Kong. It is involved in cruise and resort businesses through Star Cruises, Norwegian Cruise Line and Resorts World Manila.

Philippines

USA and Caribbean

Korea

China

Investments in the USA

[16]

Previous properties

  • Burswood Entertainment Complex, Perth, Australia (formerly known as Burswood Island Casino)
  • Lucayan Beach Resort and Casino, Bahamas (in partnership with the Bahamian government)

Aston Villa Football Club sponsorship

An announcement was made on 22 June 2011 that Genting would become the new principal partner of English Premier League club Aston Villa. Details of the partnership reveal that Aston Villa home and away jerseys will display the Genting Casinos branding. The deal is to run initially for two seasons from July 2011 to July 2013.

Notes

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 http://www.genting.com/groupprofile/index.htm
  2. ↑ http://www.gentingmalaysia.com/profile.htm
  3. ↑ Finance & Intrigue in Massachusetts, Continued, Indian Gaming Now, 2 December 2009.
  4. ↑ Genting Group Profile, Genting website, 2012.
  5. ↑ Empire concludes $55M investment by Kien Huat, Reuters, 19 August 2009.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Genting Group 2010 Annual Report, Genting Berhad, 6 May 2011.
  11. ↑ http://www.casinoofthefirstlight.com,
  12. ↑ Foxwoods loan deals with Malaysian investors raise concern, worsen debt, Connecticut Post, 23 November 2009.
  13. ↑ Tribal Casino Rules Revisited, Wall Street Journal, 21 September 2009.
  14. ↑ Empire Resorts Concludes $55,000,000 Investment Agreement with Kien Huat Realty III Limited, Empire Resorts Press Release, 19 August 2009.
  15. ↑ efforts to secure preferred state gaming rights
  16. ↑ Genting circling Massachusetts as House eyes casino vote, Gambling Compliance, 9 May 2011.

External links

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