MGM Resorts eyeing in Genting Singapore investment

MGM Resorts eyeing in Genting Singapore investment

MGM Resorts International recently had a discussion with Malaysia’s Lim Kok Thay family over a potential takeover or investment in Genting Singapore, the parent firm of Singapore’s Resort World Sentosa.

MGM recently approached the Lim family to measure interest in a deal and although no such agreement was reached, MGM could resume its pursuit of the company.

The other potential suitors are also studying Genting Singapore, which has traditionally been Genting Group’s most profitable entity since Resort World Sentosa, one of only two integrated resorts in Singapore alongside Marina Bay Sands that opened in 2010.

It was also one of the group’s few businesses to remain profitable through much of the COVID-19 pandemic.

MGM has sold off a large number of US assets in recent years, including MGM Grand, Mandalay Bay, CityCenter, and The Mirage.

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