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Genting Berhad considers US listing for shareholder value
Genting Berhad stated on Thursday that it is still exploring the possibility of listing in the US in order to maximize shareholder value.
According to a report by Chinese-language Malaysian media outlet, President and Chief Operating Officer Tan Kong Han said investors at Genting’s Annual General Meeting that the company will pursue its listing plan whenever the timing was right, but it remained an opportunity of interest. The US$5 billion Resorts World Las Vegas, together with Resorts World New York City, Resorts World Catskills, and Resorts World Hudson Valley through subsidiary Genting Malaysia, are among the US businesses of Genting Berhad.
President and COO commented:
“Listing in the United States can unlock shareholder value and enhance the value of the group. We will obviously pay attention to this matter, but we also need to observe the environment in the United States and it will depend on the situation.”
Tan said that the organization has previously shown its capacity to operate across various jurisdictions by getting licenses in the US and the UK, indicating that it is interested in investigating potential integrated resort ventures in emerging economies like Thailand and the UAE.
Although one of its subsidiaries, Genting Singapore, has already indicated a strong interest, it is unclear if Tan was explicitly seeking Thailand. However, as Genting Group maintains its post-COVID momentum, Tan expressed confidence in the company’s short-term prospects.
Tan added:
“The global economic environment is expected to gradually improve. While there are still concerns about geopolitical tensions and the impact of monetary policy, and downside risks still dominate.”
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