Chinese language Malaysian media outlet Sin Chew Daily, Genting’s Malaysia-facing brand, remains vigilant for finding the right time to list in the United States.
According to reports, President and Chief Operating Officer Tan Kong Han was updating investors at Genting’s Annual General Meeting, where he outlined the best path to “unlocking the most shareholder value and also elevating the brand’s value”.
Genting has enjoyed growth in recent times, successfully rebounding from the pandemic at pace in Asia.
Nonetheless, Han made clear that the firm is keen for expansion as it looks to continue to capitalise on the success of its brand domestically.
The US was one of the key markets named by Han, however, he emphasised that timing and the climate needs to be right.
He also revealed that Thailand is a potential venture for the firm, as the regulatory framework in the region is set for evolution in the near future.
Recently, further progress was found in the developments for the legislation of casinos in Thailand after the cabinet backed a special house committee report.
According to a story broken by the Bangkok Post, that decision marked significant progression and further developments in the framework for casino regulation in Thailand.
In spite of this, the development of casinos in the region is likely to be a long-term project and won’t be formulated until 2029 at the earliest.
It builds on what is being cited as a ‘fun economy’ embraced as economic corridors, which could be crucial to the implementation of casino regulations in the region, are tapped into.
Bidding processes for the casinos are set to conclude this year. Should they be approved, they will be subject to regulatory sign off.
