In Malaysia, the founder of the Berjaya Group conglomerate is reportedly considering the possibility of applying for a full casino license and breaking the local monopoly Genting Malaysia has held since the opening of its Resorts World Genting development in the 1970s.
According to a report from the local Daily Express newspaper, billionaire entrepreneur Tan Sri Vincent Tan stepped down as Chairman for Kuala Lumpur-based Berjaya Group almost five years ago and feels that Malaysia should now have more than one casino in order to offer more choice to tourists and locals.
The newspaper reported that the 64-year-old, who is worth an estimated $1.3 billion, unsuccessfully applied for a license to operate a full casino in the Berjaya Hills Resort near Pahang some twelve years ago but is now considering the possibility of returning to the project as a way of assisting in the development of the local tourism and hospitality industries.
The Berjaya Hills Resort is home to Colmar Tropicale and the Chateau Spa And Organic Wellness Resort alongside a golf and country club and has a license to operate slots. Johor-born Tan revealed in 2014 that he had wanted to invest at least $672.27 million in order to open a full-scale casino near the development that would moreover feature indoor and outdoor theme parks, food outlets, a shopping mall, hotels, a convention center and holiday homes. He explained that he had been prepared to bring in outside investors to help fund the project while the finished resort would have employed around 10,000 locals.
“The government should give us the license as we are investing and creating jobs for the people,” Tan told the Business Times newspaper in 2014. “Why give Genting [Malaysia] the monopoly for 50 to 60 years. We are in the lottery business and we never had a monopoly. The pie for the casino business is big enough for us to share.”