{"id":221743,"date":"2022-07-18T01:00:14","date_gmt":"2022-07-18T06:00:14","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=221743"},"modified":"2022-07-19T11:59:35","modified_gmt":"2022-07-19T16:59:35","slug":"genting-singapore-says-its-not-in-continuing-takeover-talks","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/","title":{"rendered":"Genting Singapore Says No Takeover Talks Ongoing, Lim Confirms Unsolicited Bid"},"content":{"rendered":"

Genting Singapore, the owner of the Resorts World Sentosa casino-hotel, denies it\u2019s in continuing takeover discussions with potential suitors. But it did confirm the chairman of its parent company received an unsolicited acquisition offer.<\/p>\n

\"Genting
Resorts World Sentosa in Singapore. Parent company Genting Singapore denies takeover talks are ongoing. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

In a filing today with the Singapore Stock Exchange, Genting Singapore acknowledges various media reports that surfaced last week indicating ongoing discussions with unidentified companies about a potential takeover. But the integrated resort operator says those reports are false.<\/p>\n

The company is not aware of nor has it been party to any ongoing discussions concerning any potential transaction,\u201d<\/strong> it said in the regulatory filing.<\/p><\/blockquote>\n

The document was accompanied by another requesting that the exchange lift a trading halt Genting Singapore called for last Friday in the wake of the aforementioned reports.<\/p>\n

No Direct Comments on MGM Rumor<\/h2>\n

Reports suggesting that MGM Resorts International (NYSE:MGM)<\/a> approached the Lim family about purchasing Genting Singapore have been rife. The reports touched off speculation that the gaming company was also engaged in talks with other suitors.<\/p>\n

\n

Genting\u2019s filing with the Singapore Stock Exchange confirms that Tan Sri Lim Kok Thay, executive chairman of Genting Berhad, received an unsolicited approach from another company regarding an acquisition. But that suitor isn\u2019t identified in the document.<\/p>\n<\/div>\n

Lim \u201chas informed the Company that he is aware, by virtue of his position as Executive Chairman and Chief Executive of Genting Berhad, that Genting Berhad had received an unsolicited approach for its shareholding in the Company, which has not been pursued,\u201d according to the filing.<\/p>\n

Genting Berhad is an industrial conglomerate with varying lines of business, including casinos in the Bahamas, Malaysia, the Philippines, Singapore, and the US, among other interests.<\/p>\n

What\u2019s Next for Genting Singapore?<\/h2>\n

It\u2019s possible Genting Berhad could be paying lip service to the non-acquisition talks bit. But there\u2019s no denying its Singapore integrated resort — one of two in the city-state — would be highly coveted by any number of prospective buyers.<\/p>\n

Singapore is open to international tourists,<\/a> and gaming executives are enthusiastic about the near-term prospects there — something that cannot be said of Macau.<\/p>\n

\n

On a related note, some analysts believe it\u2019d be unwise of Genting Singapore to sell itself before Singapore\u2019s gaming industry fully recovers. Rather, at least one bank suggests the Genting Berhad could opt to sell a partial slice of the Singapore unit and<\/a> use that capital to shore up its US gaming operations. It could also potentially make an acquisition aimed at gain access to Macau.<\/p>\n<\/div>\n

Before the trading above halt in its shares, Genting Singapore had a market capitalization of $6.4 billion, making it affordable for an assortment of potential suitors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Singapore, the owner of the Resorts World Sentosa casino-hotel, denies it\u2019s in continuing takeover discussions with potential suitors. But it did confirm the chairman of its parent company received an unsolicited acquisition offer. In a filing today with the Singapore Stock Exchange, Genting Singapore acknowledges various media reports that surfaced last week indicating ongoing […]<\/p>\n","protected":false},"author":46,"featured_media":221744,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,32093],"tags":[],"acf":[],"yoast_head":"\nGenting Singapore Says It's Not In Continuing Takeover Talks<\/title>\n<meta name=\"description\" content=\"Genting Singapore denies it's holding ongoing takeover discussions with outside companies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genting Singapore Says It's Not In Continuing Takeover Talks\" \/>\n<meta property=\"og:description\" content=\"Genting Singapore denies it's holding ongoing takeover discussions with outside companies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-18T06:00:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-19T16:59:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\",\"url\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\",\"name\":\"Genting Singapore Says It's Not In Continuing Takeover Talks\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS3.jpg\",\"datePublished\":\"2022-07-18T06:00:14+00:00\",\"dateModified\":\"2022-07-19T16:59:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genting Singapore denies it's holding ongoing takeover discussions with outside companies.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-singapore-says-its-not-in-continuing-takeover-talks\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS3.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/07\/RWS3.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"Resorts World Sentosa in Singapore. 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