Genting Malaysia and Genting Singapore are competing in a bid for a Thai casino licence.
According to analysts from Maybank Investment Bank, the bank learned at Genting Malaysia’s 2024 financial year results presentation that the company’s management has confirmed its intention to bid for a Thai casino licence. Inside Asian Gaming (IAG) pointed out that although Genting Malaysia and Genting Singapore belong to the same Genting Group, the two companies are independent operating entities and may compete in the bidding process.
Groups from other countries also expressed interest in bidding for the casino licence.
For illustration purposes only
Genting Group currently holds a 52.7% stake in Genting Singapore
The plan, however, is not new and has been discussed since 2024. Genting Berhad’s President and Executive Director, Dato’ Sri Tan Kong Han, told shareholders that Genting has previously demonstrated its ability to operate across multiple jurisdictions by obtaining licences in the US and UK, reported Sin Chew.
The Genting group’s casino resorts in the US include the USD5 billion (approximately RM23 billion) Resorts World Las Vegas, Resorts World New York City, Resorts World Catskills, and Resorts World Hudson Valley in New York.
Genting also has casinos in London and over 30 provincial casinos across the UK.
Despite its market in the US, Tan said Genting is still looking at opportunities to list its operations in the US, as he believes that listing in the US can unlock shareholder value and enhance the value of the group.
Gambling was ILLEGAL in Thailand
Talks to legalise gambling in Thailand started last year, and in January 2025, Thailand’s Cabinet approved a draft law that would legalise gambling and casinos. Four locations in Thailand have been identified as the first places to house the casinos, namely,
- Bangkok
- Chonburi
- Chiang Mai
- Phuket
Most forms of gambling are illegal in Thailand, but underground betting is commonplace, and certain state-run horse races and an official lottery are allowed. Thai Prime Minister Paetongtarn Shinawatra has said legalising gambling and casinos would help generate more state revenue, reported Channel News Asia.
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