According to a filing on Bursa Malaysia (formerly Kuala Lumpur Stock Exchange) this week, Genting Malaysia Bhd will acquire all shares of Genting Alderney Ltd for US$10.9 million, streamlining its UK gaming business. Genting Alderney is the wholly owned subsidiary of RWI International Investments Ltd that operates online casino games, live casinos, sports betting, and poker rooms in the UK. The US$10.92 million cash purchase will be financed with internally generated funds.
Genting Malaysia operates land-based casinos in Malaysia, the United States, and the Bahamas and will soon add Resorts World Birmingham through Genting UK Plc, an indirect wholly-owned unit that operates UK land based casinos.
“Genting Malaysia Group is optimistic about the future outlook of the UK online gaming in the long term as the operating environment in the UK gradually strengthens and the economy improves moderately.
“Following the proposed acquisition, the operations of Genting Alderney and GUK are expected to be streamlined as an integrated online, mobile and retail gaming business under the focus of a single management in order to deliver a seamless multi-channel customer experience in the UK,” the company filing said.
Genting Alderney is licensed by the Alderney Gambling Control Commission and holds a combined remote operating licence from the Gambling Commission of the UK to manufacture, supply, install or adapt gambling software, to operate casinos and to act as a betting intermediary.