Genting Singapore's interest in expanding into the UAE and Thailand
Date: 2024-05-20 Author: Alex Crawford Categories: EVENTS
Genting Singapore executive chairman Tan Sri Lim Kok Thay expressed the company's interest in possible expansion in the UAE and Thailand during its annual general meeting held on Friday, May 17.
Discussion of international expansion strategy
Shareholders expressed interest in the company's future growth and international expansion strategy, with questions about the potential impact of regulation and investment decisions.
Tan Sri Lim stressed that while the gaming industry is highly regulated in Singapore, the government will not interfere with a company's investment decisions, which could ensure some degree of control.
Potential in the UAE
Lim noted that an international tender for a casino in the UAE is unlikely, but the company is interested in developing an integrated resort by leveraging its experience in non-gaming offerings.
Thailand: long process
On the issue of a possible bid for a casino in Thailand, Lim noted that the bidding process is lengthy and the company is focused on the ongoing RWS 2.0 project while awaiting more clarity on the terms of legalized gambling in Thailand.
Genting Singapore CEO Tan Hee Teck added that it is still early in the casino licensing process in Thailand as many details are yet to be finalized and more information needs to be awaited.
Although Thailand is working to legalize casinos, the process is not yet complete and many details require further discussion and updates.
