KUALA LUMPUR: Genting Malaysia Bhd's (GenM) indirect wholly-owned subsidiary, Genting ER II LLC (GER II) has entered into a share purchase agreement with Kien Huat Realty III Ltd (KH) to purchase the entire 1,510 Series F convertible preferred stock of Empire Resorts Inc (Series F) for US$100 million (RM438.5 million).
Genting Malaysia Bhd has said it is investing another US$100 million (RM438.5 million) to acquire convertible preferred stock in Empire Resorts Inc, raising its investment in the New York-based gaming company to US$624.4 million.
PETALING JAYA: Going by Genting Singapore Ltd’s results for the first quarter of financial year 2022 (1Q22), the Genting group of companies is poised to see a recovery in earnings following the removal of pandemic-related constraints.
Genting Malaysia Bhd is staying cautiously optimistic about near-term prospects for the leisure and hospitality industry, and remains wary of the increased spread of Covid-19 variants, according to its 2021 annual report released on Thursday (April 7).
KUALA LUMPUR: S&P Global Ratings expects Genting Bhd’s ongoing operational recovery to meet its expectations, underpinned by disciplined spending and the reopening of Malaysian borders from April 1.