{"id":777015643,"date":"2024-05-20T09:05:25","date_gmt":"2024-05-20T12:05:25","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777015643"},"modified":"2026-04-22T10:06:31","modified_gmt":"2026-04-22T13:06:31","slug":"genting-singapore-open-to-uae-casino-resort-collaboration","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-open-to-uae-casino-resort-collaboration","title":{"rendered":"Genting Singapore open to UAE casino resort collaboration"},"content":{"rendered":"\n

Genting Singapore’s executive chairman has expressed interest in collaborating on a UAE casino resort project.<\/p>\n\n\n\n\n\n\n\n

Singapore.-\u00a0Lim Kok Thay<\/strong>, the executive chairman of Genting Singapore, has said the company would be interested in collaboration on a casino resort in the United Arab Emirates but noted that an international tender for a casino-only development was unlikely.<\/p>\n\n\n\n

Asked at the company’s annual general meeting if the Singapore government would have an influence on its expansion strategy, Kok Thay said: “It is to\u00a0be expected\u00a0that\u00a0the\u00a0company\u2019s\u00a0decisions on foreign ventures will be subjected\u00a0to scrutiny and\u00a0review,\u00a0and may\u00a0be impacted\u00a0by the need for partners to meet Singapore regulatory standards for probity.”<\/p>\n\n\n\n

Last September, the UAE government formed the\u00a0General Commercial Gaming Regulatory Authority\u00a0(GCGRA)<\/a>\u00a0that will\u00a0govern commercial gaming and lotteries. The government\u00a0named\u00a0Kevin Mullally<\/strong> as the\u00a0GCGRA\u2019s\u00a0chief executive. Other appointments include former MGM Resorts International general director\u00a0Jim Murren\u00a0<\/strong>as chair.<\/p>\n\n\n\n

Genting Singapore posts revenue of US$580m for Q1<\/h2>\n\n\n\n

Genting Singapore’s Q1 revenue was SG$784.4m (US$580m), up 62 per cent\u00a0in year-on-year terms<\/a>\u00a0and up 21 per cent when compared to the previous quarter. The company posted\u00a0gaming revenue of SG$576m (US$425.6m)<\/strong>, up 69 per cent year-on-year and up 31 per cent sequentially. Non-gaming revenue was SG$208.3m (US$154m), up 44 per cent year-on-year and up 1 per cent quarter-on-quarter.<\/p>\n\n\n\n

Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) were SG$369.5m (US$273m), up 93 per cent year-on-year and 62 per cent sequentially. Net profit was SG$247.4m (US$183m).<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Singapore’s executive chairman has expressed interest in collaborating on a UAE casino resort project.<\/p>\n","protected":false},"author":176,"featured_media":777013253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Singapore's executive chairman, Lim Kok Thay, has articulated the company's interest in a collaborative casino resort development within the United Arab Emirates, contingent on partners adhering to Singapore's stringent probity standards. This strategic consideration coincides with the UAE's establishment of the General Commercial Gaming Regulatory Authority (GCGRA). Concurrently, Genting Singapore reported robust Q1 financial performance, demonstrating significant year-on-year growth across gaming and non-gaming revenues, and adjusted EBITDA.","focusai_entities":"Genting Singapore, Lim Kok Thay, Singapore government, General Commercial Gaming Regulatory Authority (GCGRA), Kevin Mullally, MGM Resorts International, Jim Murren","focusai_location":"United Arab Emirates, Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"UAE Regulatory Framework","query":"What specific probity standards from Singapore's regulatory framework would Genting Singapore need to ensure its UAE partners meet, and how might these align or conflict with the GCGRA's nascent governance frameworks?"},{"label":"Market Entry Strategy","query":"Given the unlikelihood of a 'casino-only' tender in the UAE, what integrated resort development model is Genting Singapore likely to pursue, and what non-gaming verticals would be prioritized to maximize GGR and NGR?"}],"footnotes":""},"categories":[157,16333],"tags":[23632,23907],"class_list":["post-777015643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777015643"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015643\/revisions"}],"predecessor-version":[{"id":777015657,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015643\/revisions\/777015657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777013253"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}