Genting Bhd’s attempt to takeover Genting Malaysia Bhd (GenM) has turned mandatory after surpassing a 50% ownership stake through a 2.02% share acquisition in the open market. By November 13, 2025, Genting and its affiliates owned over 57% of Genting Malaysia, triggering a mandatory takeover per Malaysian regulations, though the offer price remains at MYR2.35 per share. The deadline for acceptance is now December 1, 2025. Initially, Genting’s offer was voluntary but changed to mandatory after acquiring 114.47 million additional shares, pushing its stake beyond 50%. The MYR2.35 offer is advised against by Kenanga Investment Bank, labeling it as unfair given the intrinsic value ranges from MYR3.48 to MYR3.77. Analyst Tushar Mohata of Nomura suggests Genting might struggle to gain a 75% stake for delisting without increasing the offer price. Genting Malaysia’s assets, particularly in the US, such as Resorts World New York City and Catskills, are pivotal. The acquisition would enhance Genting’s influence over these assets, especially if they secure a commercial casino license. Genting Malaysia also operates Resorts World Genting in Malaysia and has global ventures across the UK, Egypt, and the Bahamas. Privatization could streamline operations, especially with potential expansion in New York. Despite increasing their stake to 57%, Genting faces hurdles in having shareholders accept the offer terms, with recommendations for a bid revision amid fairness concerns. Nonetheless, Genting remains optimistic about the offer’s success and navigating regulatory challenges, particularly with the forthcoming New York casino license decision.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com
