Inside Asian Gaming

INSIDE ASIAN GAMING | August 2013 40 G enting Group has big plans for expansion in the Asia-Pacific region that include raising its stake in Australia’s Echo Entertainment and investing in Japan if licenses become available there. Lim Kok Thay, chairman of the Malaysian resort conglomerate, said listed subsidiary Genting Hong Kong has applied to regulators in New South Wales and Queensland to increase its holding in the operator of Sydney’s only casino to as much as 25% and is “patiently waiting” for the go- ahead. “My guess is it will go on for a while,” the 61-year-old billionaire said in a wide-ranging interview with Bloomberg . Genting Hong Kong currently holds 6.6% of Echo’s ASX-listed shares. Japan could be Genting’s next casino investment should Prime Minister Shinzo Abe’s government approve legislation, Mr Lim said. “With a new and stronger government in place, I think their focus would be to drive the Japanese economy. Tourism certainly must be one of the factors that the government will be looking at.” He said also that he isn’t concerned about slowing growth in Singapore, where his company owns one of two resort casinos through a Singapore-listed subsidiary, and isn’t planning any significant alterations in the company’s strategy there. “The economy around Asia is still pretty Genting Group’s Singapore property, Resorts World Sentosa Expanding Horizons Malaysia’s Genting Group is in growth mode across the globe Resorts World Genting in Malaysia