GENTING SINGAPORE DIVESTING UK CASINO BUSINESS

Genting Malaysia picks up UK assets for GBP 340 million
 
Singapore-listed Genting Singapore said this week that it is to divest its casino businesses in the United Kingdom to Genting Malaysia for GBP340 million.
 
Genting said the divestment of the UK operations will allow it to focus on strengthening the large scale integrated resort experience it gained in developing Resorts World Sentosa.
 
The sale of the operations will also add resources to enable RWS to conduct customer acquisition, marketing and brand development.
 
Genting added that the net proceeds of the proposed divestment may also be deployed for strategic growth opportunities in the leisure, hospitality and gaming sectors, when such opportunities arise.