Genting considers UAE integrated casino resort venture

It is seen to leverage the company’s experience in non-gaming offerings.

Genting Group is considering to establish an integrated casino resort in the United Arab Emirates (UAE), Chairman Tan Sri Lim Kok Thay announced during the company's annual general meeting.

The announcement came as part of discussions regarding the company's expansion plans beyond its current flagship project, Resorts World Sentosa (RWS) in Singapore.

During the meeting, shareholders raised questions regarding the potential for geographical diversification and expansion beyond the ongoing RWS 2.0 project. In response, Lim cited the company's commitment to exploring opportunities outside its core market in Singapore.

The move to consider expansion into the UAE aligns with Genting Singapore Limited's broader strategy of diversification and tapping into emerging markets. 

Addressing concerns about regulatory scrutiny and decision-making processes, Lim clarified that Genting Singapore Limited operates independently with its board of directors making investment decisions. 

The chairman expressed confidence in Genting's ability to navigate potential regulatory scrutiny, particularly in jurisdictions where gaming is heavily regulated.

“For investment into UAE, Chairman noted that an international tender for a casino only development is unlikely,” the minutes cited Lim as saying.

“The company would be happy to work on an IR development in the Middle East, leveraging the company’s experience in non-gaming offerings,” it added.

Moreover, Lim urged shareholders to look beyond the gaming aspect of the business and emphasised the importance of aligning with Singapore's vision of becoming an event-driven tourist destination. 

He also reiterated the company's readiness to capitalise on anticipated growth in tourism, particularly with the ongoing RWS 2.0 project.