Genting Group
Encyclopedia
Genting Group is an Asia
n conglomerate
. It comprises four listed entities (namely holding company Genting Berhad (MYX:3182) and its member companies Genting Malaysia Berhad(MYX:4715), Genting Plantations Berhad(MYX:2291), Genting Singapore Plc(SGX:G13) and Genting Hong Kong Limited(HKEX:678).
The Genting Group was founded in 1965 by Malaysian entrepreneur
the late Tan Sri Lim Goh Tong
. The Genting Group is headed by Tan Sri Lim Kok Thay
, the Chairman and Chief Executive, who joined the group in 1976. The group has over 26 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world, including the Americas, Australia, Malaysia, the Philippines, Singapore and United Kingdom. It has been voted Malaysia's leading corporation and one of Asia's best managed multinationals. The group's pioneer integrated resort
is Resorts World Genting, formerly known as Genting Highlands Resort. The main attractions of the resort are its casino
, theme park, concert shows, food & beverage and retail shopping. It is one of the most popular tourist destinations in Malaysia.
From its initial leisure and hospitality activities, the Genting Group has since expanded and diversified into other activities including plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology. The Genting Group, via Tan Sri Lim Kok Thay
is the founder of Star Cruises
the third largest cruise liner company in the world and largest cruise liner in Asia. Star Cruises, which was renamed Genting Hong Kong in 2009, is listed on Singapore and Hong Kong Stock Exchange. The Genting Group currently owns about 19.9% of Genting Hong Kong.
The Group employs over 58,000 globally and possesses 4500 hectares (11,119.7 acre) of prime resort land and 133500 hectares (329,885.4 acre) of land for plantation. The group's combined market capitalisation amounted to US$46 billion as of 31 May 2011. Genting Group has assets totalling US$16.6 billion, as at 31 December 2010.(2)
, named Resorts World Sentosa, under Genting Singapore. The project requirements includes hotel, gaming, leisure facilities, convention space and retail to create an iconic major tourist attraction for the booming Asian tourism market.
In 2007, Genting Plantations ventured into biotechnology to develop synthetic genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with "Synthetic Genomics".
In July 2007, Genting Group disposed of its paper and packaging business.
In August 2009, Genting Hong Kong opened Resorts World Manila
in partnership with Alliance Global Group. It is one of four groups that won approval in 2008 to build hotels and casinos as part of Philippines' USD$20 billion Pagcor City development on Manila Bay. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS22lEJCBnXE
In June 2009, Genting Group supported the capital raising exercise of MGM Mirage
. http://www.reuters.com/article/2009/06/10/genting-idUSKLR41863920090610
In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group
, as part of a wider 7000 acres (2,832.8 ha) integrated township project in the southern state of Johor
.http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=GENM:MK&sid=axx28A96QVCs
In September 2010, Genting New York won a bid to build a racino
at Aqueduct Race Track in New York City
, the first step of a planned expansion in the United States
. Among the attributes of the plan was providing a diversion for passengers on long stays at John F. Kennedy International Airport
. Resorts World New York is scheduled to open by end-2011.
In May 2011, Genting Malaysia purchased 14 acres (5.7 ha) of Biscayne Bay
front land surrounding the headquarters of The Miami Herald
for US$236 million; The McClatchy Company
announced that the Herald and El Nuevo Herald
would be moving to another location by 2013. The land is to be used for a mixed use development, Resorts World Miami, that would include hotels, restaurants, residences, retail shops and a convention centre. Genting Group sees the Miami land acquisition as an integral step in its pursuit of expanding internationally in the leisure, hospitality and entertainment industry.
In June 2011, Genting UK was awarded a casino licence for a 55,000 sq-meter mixed-use facility in Birmingham. http://www.birminghampost.net/birmingham-business/birmingham-business-news/other-uk-business/2011/06/30/resorts-world-casino-a-major-player-in-destination-nec-project-65233-28974935/ The development is in partnership with the NEC Group
and is currently under review for planning permission.
As of December 31, 2010 Genting Malaysia now owns the largest number of casinos in the UK with 46 casinos:
Premier League club Aston Villa
. Details of the partnership reveal that Aston Villa home and away jerseys will display the Genting Casinos branding. The deal is to run initially for two seasons from July 2011 to July 2013.
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
n conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
. It comprises four listed entities (namely holding company Genting Berhad (MYX:3182) and its member companies Genting Malaysia Berhad(MYX:4715), Genting Plantations Berhad(MYX:2291), Genting Singapore Plc(SGX:G13) and Genting Hong Kong Limited(HKEX:678).
The Genting Group was founded in 1965 by Malaysian entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
the late Tan Sri Lim Goh Tong
Lim Goh Tong
Tan Sri Dato Seri Lim Goh Tong was a prominent wealthy Malaysian Chinese businessman. He was renowned for his vision and courage in transforming Genting Highlands from an unexplored hilltop into one of the world's most successful casino resorts...
. The Genting Group is headed by Tan Sri Lim Kok Thay
Tan Sri Lim Kok Thay
Tan Sri Dato' Lim Kok Thay is a prominent entrepreneur in Malaysia...
, the Chairman and Chief Executive, who joined the group in 1976. The group has over 26 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world, including the Americas, Australia, Malaysia, the Philippines, Singapore and United Kingdom. It has been voted Malaysia's leading corporation and one of Asia's best managed multinationals. The group's pioneer integrated resort
Integrated Resort
An integrated resort is a resort with a wide variety of leisure and entertainment attractions, all housed in one resort property. The first known integrated resort began in early 1980s in Malaysia, when Resorts World Genting was developed from a single hotel with casino facility to a variety of...
is Resorts World Genting, formerly known as Genting Highlands Resort. The main attractions of the resort are its casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
, theme park, concert shows, food & beverage and retail shopping. It is one of the most popular tourist destinations in Malaysia.
From its initial leisure and hospitality activities, the Genting Group has since expanded and diversified into other activities including plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology. The Genting Group, via Tan Sri Lim Kok Thay
Tan Sri Lim Kok Thay
Tan Sri Dato' Lim Kok Thay is a prominent entrepreneur in Malaysia...
is the founder of Star Cruises
Star Cruises
Star Cruises , a member of Genting Hong Kong, is the sixth largest cruise line in the world behind companies such as Carnival Corporation and Royal Caribbean Cruises...
the third largest cruise liner company in the world and largest cruise liner in Asia. Star Cruises, which was renamed Genting Hong Kong in 2009, is listed on Singapore and Hong Kong Stock Exchange. The Genting Group currently owns about 19.9% of Genting Hong Kong.
The Group employs over 58,000 globally and possesses 4500 hectares (11,119.7 acre) of prime resort land and 133500 hectares (329,885.4 acre) of land for plantation. The group's combined market capitalisation amounted to US$46 billion as of 31 May 2011. Genting Group has assets totalling US$16.6 billion, as at 31 December 2010.(2)
Group structure
Genting Berhad is the parent company and holding company that manages investment in other companies. Headquarters in Malaysia. Listed on Bursa Malaysia, with market capitalisation of US$13.6 billion as at 31 May 2011.- Genting Singapore PLC - (53.9% owned by Genting Berhad) - investment holding company. Listed on Singapore Stock Exchange. Market Capitalisation is US$19.7 billion as of 31 May 2011.
- Genting Malaysia Berhad - (48.7% owned by Genting Berhad) - It is involved leisure and hospitality, gaming and entertainment which includes its casino businesses in the Americas and United Kingdom, Genting UK and Genting New York. Genting UK is the largest casino operator in the United Kingdom. Listed on Bursa Malaysia with market capitalisation of US$7.1 billion as of 31 May 2011.
- Genting Hong Kong Limited (18.4% owned by Genting Berhad) - formerly known as Star Cruises Limited, is a leading global leisure, entertainment and hospitality enterprise, with core competences in both land and sea-based businesses. Listed in Hong Kong and Singapore stock exchange with US$3.2 billion market capitalisation as of 31 May 2011.
- Genting Plantations Berhad (54.7% owned by Genting Berhad) - this is involved in plantations, biotechnology and property, which includes its property arm, Genting Property. Genting Plantations owns 133,000 hectares of land in Malaysia and Indonesia. It is one of the leading and lowest cost palm oil producers in Malaysia. Listed on Bursa Malaysia with US$2.0 billion market capitalisation as of 31 May 2011.
- Genting Oil & Gas (95% owned by Genting Berhad) - exploration and production of oil and gas in Indonesia and Morocco.
- Genting Sanyen Power (58.6% owned by Genting Berhad) - power generation and supply in Malaysia and India.
Diversification and expansion
In December 2006, Genting Group won the bid in obtaining one of two Singapore casino licenses to build an integrated resortIntegrated Resort
An integrated resort is a resort with a wide variety of leisure and entertainment attractions, all housed in one resort property. The first known integrated resort began in early 1980s in Malaysia, when Resorts World Genting was developed from a single hotel with casino facility to a variety of...
, named Resorts World Sentosa, under Genting Singapore. The project requirements includes hotel, gaming, leisure facilities, convention space and retail to create an iconic major tourist attraction for the booming Asian tourism market.
In 2007, Genting Plantations ventured into biotechnology to develop synthetic genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with "Synthetic Genomics".
In July 2007, Genting Group disposed of its paper and packaging business.
In August 2009, Genting Hong Kong opened Resorts World Manila
Resorts World Manila
Resorts World Manila is a luxury casino resort, located in Newport City, across the Ninoy Aquino International Airport Terminal 3, in Manila, Philippines. The resort is a joint venture between AGI and Genting Hong Kong...
in partnership with Alliance Global Group. It is one of four groups that won approval in 2008 to build hotels and casinos as part of Philippines' USD$20 billion Pagcor City development on Manila Bay. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aS22lEJCBnXE
In June 2009, Genting Group supported the capital raising exercise of MGM Mirage
MGM Mirage
Not to be confused with the Las Vegas, Nevada based casino/resort operator Resorts International Holdings.MGM Resorts International is a Paradise, Nevada based corporation that brands itself as a global hospitality company. It is the second largest gaming company in the world by revenue - about...
. http://www.reuters.com/article/2009/06/10/genting-idUSKLR41863920090610
In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group
Simon Property Group
Simon Property Group, Inc. is an American commercial real estate company, ranked #1 in the United States as the largest real estate investment trust. Simon is a fully integrated real estate company which operates from five retail real estate platforms: regional malls, Premium Outlet Centers, The...
, as part of a wider 7000 acres (2,832.8 ha) integrated township project in the southern state of Johor
Johor
Johor is a Malaysian state, located in the southern portion of Peninsular Malaysia. It is one of the most developed states in Malaysia. The state capital city and royal city of Johor is Johor Bahru, formerly known as Tanjung Puteri...
.http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=GENM:MK&sid=axx28A96QVCs
In September 2010, Genting New York won a bid to build a racino
Racino
A racino is a combined race track and casino. In some cases, the gambling is limited to slot machines, but many locations are beginning to include table games such as blackjack, poker, and roulette....
at Aqueduct Race Track in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, the first step of a planned expansion in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Among the attributes of the plan was providing a diversion for passengers on long stays at John F. Kennedy International Airport
John F. Kennedy International Airport
John F. Kennedy International Airport is an international airport located in the borough of Queens in New York City, about southeast of Lower Manhattan. It is the busiest international air passenger gateway to the United States, handling more international traffic than any other airport in North...
. Resorts World New York is scheduled to open by end-2011.
In May 2011, Genting Malaysia purchased 14 acres (5.7 ha) of Biscayne Bay
Biscayne Bay
Biscayne Bay is a lagoon that is approximately 35 miles long and up to 8 miles wide located on the Atlantic coast of South Florida, United States. It is usually divided for purposes of discussion and analysis into three parts: North Bay, Central Bay, and South Bay. Its area is...
front land surrounding the headquarters of The Miami Herald
The Miami Herald
The Miami Herald is a daily newspaper owned by The McClatchy Company headquartered on Biscayne Bay in the Omni district of Downtown Miami, Florida, United States...
for US$236 million; The McClatchy Company
The McClatchy Company
The McClatchy Company is a publicly traded American publishing company based in Sacramento, California. It operates 30 daily newspapers in 15 states and has an average weekday circulation of 2.2 million and Sunday circulation of 2.8 million...
announced that the Herald and El Nuevo Herald
El Nuevo Herald
El Nuevo Herald is a McClatchy newspaper published daily in Spanish in Miami, Florida, in the United States. El Nuevo Heralds sister paper is The Miami Herald, also produced by the McClatchy Company.-About El Nuevo Herald:...
would be moving to another location by 2013. The land is to be used for a mixed use development, Resorts World Miami, that would include hotels, restaurants, residences, retail shops and a convention centre. Genting Group sees the Miami land acquisition as an integral step in its pursuit of expanding internationally in the leisure, hospitality and entertainment industry.
In June 2011, Genting UK was awarded a casino licence for a 55,000 sq-meter mixed-use facility in Birmingham. http://www.birminghampost.net/birmingham-business/birmingham-business-news/other-uk-business/2011/06/30/resorts-world-casino-a-major-player-in-destination-nec-project-65233-28974935/ The development is in partnership with the NEC Group
NEC Group
The NEC Group is a British company that owns and operates four venues in Birmingham: The National Exhibition Centre, from which it gets its name, but also the The International Convention Centre, the LG Arena and The National Indoor Arena...
and is currently under review for planning permission.
Malaysia
- Resorts World GentingGenting HighlandsGenting Highlands otherwise known as Resorts World Genting is the flagship integrated resort developed by Genting Group. It is nestled on a mountain peak within the Titiwangsa Mountains on the border between the states of Pahang and Selangor of Malaysia...
, Malaysia - Genting International Convention Centre, Malaysia
- Awana Genting Highlands Golf & Country Resort, Malaysia
- Awana Kijal East Coast Golf, Beach & Spa Resort, Malaysia
- Awana Langkawi, Spa & Island Resort, Malaysia
United Kingdom
- Resorts World at the NEC, Birmingham (under development)
- Crockfords Club, London
- The Colony Club, London
- The Palm Beach Casino, London
- Circus Casino City Centre, Birmingham
- Circus Casino Star City, Birmingham
- Circus Casino, Blackpool
- Circus Casino, Liverpool
- Circus Casino, Luton
- Circus Casino, Manchester
- Circus Casino, Margate
- Circus Casino, Newcastle
- Circus Casino, Nottingham
- Circus Casino, Stoke
- Circus Casino, Edinburgh, Scotland
- Electric Circus, Luton
- Electric Circus, Portsmouth
- Maxims Casino Club, London
- Maxims Casino, Birmingham
- Maxims Casino, Bournemouth
- Maxims Casino, Coventry
- Maxims Casino, Derby
- Maxims Casino, Reading
- Maxims Casino, Southampton
- Maxims Casino, Southend
- Maxims Casino, Edinburgh, Scotland
- Mint Casino, London
- Mint Casino, Bolton
- Mint Casino, Brighton
- Mint Casino, Coventry
- Mint Casino, Derby
- Mint Casino, Great Yarmouth
- Mint Casino, Leicester
- Mint Casino, Liverpool
- Mint Casino, Manchester
- Mint Casino, Salford
- Mint Casino, Southend
- Mint Casino, Southport
- Mint Casino, Tourquay
- Mint Casino, Wirral
- Mint Casino, Glasgow, Scotland
- Mint Casino, Leith, Scotland
- Stanley Casino, Plymouth
Singapore
- Resorts World Sentosa, Singapore
- Universal Studios SingaporeUniversal Studios SingaporeUniversal Studios Singapore is a theme park located within Resorts World Sentosa on Sentosa Island, Singapore. It was a key component of Genting's bid for the right to build Singapore's second integrated resort. On 8 December 2006, the Singapore government announced that the consortium had won the...
, Singapore (partner with Universal StudiosUniversal StudiosUniversal Pictures , a subsidiary of NBCUniversal, is one of the six major movie studios....
)
Hong Kong
- Genting Hong KongGenting Hong KongGenting Hong Kong is a holding company that operates cruise and resort businesses. Its cruise business is branded Star Cruises and was established in 1993.-Cruise:Genting Hong Kong owns 50 per cent of Miami-based Norwegian Cruise Line...
is headquartered in Hong Kong. It is involved in cruise and resort businesses through Star CruisesStar CruisesStar Cruises , a member of Genting Hong Kong, is the sixth largest cruise line in the world behind companies such as Carnival Corporation and Royal Caribbean Cruises...
, Norwegian Cruise Line and Resorts World Manila.
USA
- Resorts World New York, USA
- Resorts World Miami, USA (under development)
- Norwegian Cruise LineNorwegian Cruise LineNorwegian Cruise Line is a company operating cruise ships, headquartered in unincorporated Miami-Dade County, Florida. It began operations in 1966 under the name Norwegian Caribbean Line. The company is best known for its Freestyle Cruising concept, which means that there are no set times or...
, headquartered in Miami
Investments in the USA
- Foxwoods Resort CasinoFoxwoods Resort CasinoFoxwoods Resort Casino is a hotel-casino in Mashantucket, Connecticut, United States. Together with the MGM Grand at Foxwoods, it is one of the largest casino complexes in the world in terms of floor space for gaming. The entire resort comprises of space. The casino has over 380 gaming tables...
, Connecticut, USA (capital loan to the Mashantucket Pequot tribe through Kien Huat Realty) - Seneca Niagara Casino and Hotel, Niagara Falls, USA (capital loan to Seneca Nation of Indians through Kien Huat Realty)
- Monticello RacewayMonticello RacewayMonticello Gaming and Raceway is a harness racing track, and home to a relatively new racino, in Monticello, Sullivan County, New York. It is off Exit 104 of Route 17 , on New York State Route 17B....
, Catskills (majority shareholder of Empire Resorts through Kien Huat Realty) - Massachusetts Region C casino development (financing the development and lobbying expenses behind Wampanoag people efforts to secure preferred state gaming rights)
Previous properties
- Burswood Entertainment Complex, Perth, Australia (formerly known as Burswood Island Casino)
- Lucayan Beach Resort and Casino, Bahamas (in partnership with the Bahamian government)
Aston Villa Football Club sponsorship
An announcement was made on 22 June 2011 that Genting would become the new principal partner of EnglishEngland
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
Premier League club Aston Villa
Aston Villa F.C.
Aston Villa Football Club is an English professional association football club based in Witton, Birmingham. The club was founded in 1874 and have played at their current home ground, Villa Park, since 1897. Aston Villa were founder members of The Football League in 1888. They were also founder...
. Details of the partnership reveal that Aston Villa home and away jerseys will display the Genting Casinos branding. The deal is to run initially for two seasons from July 2011 to July 2013.
External links
- Official website
- Official UK website
- Online casino website
- Official Aston Villa Football Club website
- Resorts World Genting, Malaysia website
- Resorts World Sentosa, Singapore website
- Resorts World New York, USA website
- Star Cruises website
- Norwegian Cruise Line website
- Genting Plantations website
- Genting Properties website
- Genting Oil & Gas website