{"id":777025452,"date":"2025-04-17T09:59:50","date_gmt":"2025-04-17T12:59:50","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777025452"},"modified":"2026-04-21T23:45:06","modified_gmt":"2026-04-22T02:45:06","slug":"casinos-investors-slip-in-forbes-malaysias-50-richest-list","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/casinos-investors-slip-in-forbes-malaysias-50-richest-list","title":{"rendered":"Casinos investors slip in Forbes Malaysia’s 50 Richest list"},"content":{"rendered":"\n

The Malaysia’s 50 Richest list shows that the wealth of NagaCorp and Genting Group’s founders decreased.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Forbes features two major casino investors in this year’s Malaysia’s 50 Richest list but both saw their net worth fall in the past year. Lim Kok Thay<\/strong>, founder of Genting Group, now ranks as the 14th richest person in Malaysia,\u00a0down five places from 2024. The Chen family<\/strong>, behind NagaCorp, is down from 18th to 30th.<\/p>\n\n\n\n

Lim Kok Thay’s is reported as having fallen from US$2.3bn to US$1.8bn. He stepped down as Genting<\/strong> CEO <\/strong>in February after nearly two decades at the helm of the group but remains as executive chairman. Dato\u2019 Sri Tan Kong Han<\/a> is now CEO.<\/p>\n\n\n

\n
\"Lim
Lim Kok Thay.<\/figcaption><\/figure>\n<\/div>\n\n\n

Genting comprises the listed and unlisted companies Genting Malaysia, Genting Plantations and Genting Singapore, Genting Energy, and Resorts World Las Vegas. Genting Singapore operates Resorts World Sentosa<\/strong>, which is one of the two integrated resorts licensed to operate in Singapore.<\/p>\n\n\n\n

For the full year, Genting Malaysia\u2019s revenue increased by 7 per cent to RM10.7bn (US$2.41bn) while adjusted EBITDA grew by 1 per cent to RM2.92bn (US$658.4m). In Malaysia, the group\u2019s leisure and hospitality operations reported a 6 per cent growth in revenue to RM6.28bn (US$1.42bn) while adjusted EBITDA was up 1 per cent to RM2.1bn (US$473.5m).<\/p>\n\n\n\n

The Chen family<\/strong> \u2013 the heirs of NagaCorp founder Chen Lip Keong<\/a>, who died in 2023, has an estimated wealth of US$775m. Following Lip Keong’s death, his son Chen Yiy Fon<\/strong> was appointed as chief executive of the casino operator.<\/p>\n\n\n\n

For full-year 2024<\/a>, NagaCorp posted GGR of US$542.9m, up 5.5 per cent year-on-year<\/a>. Net gaming revenue was US$480.3m, an increase of 8 per cent in year-on-year terms. The casino operator posted net profit of US$109.6m, down by 38.3 per cent in year-on-year terms mainly due to a non-cash impairment loss of US$89.1m related to the company\u2019s Vladivostok project. Unaudited preliminary earnings before interest, tax, depreciation and amortisation (EBITDA) were US$202.8m, down 31.3 per cent year-on-year.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau GGR rises slightly in March<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Malaysia’s 50 Richest list shows that the wealth of NagaCorp and Genting Group’s founders decreased.<\/p>\n","protected":false},"author":176,"featured_media":777014930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The article reports a decline in the net worth of the founders\/families behind major iGaming and hospitality conglomerates, Genting Group (Lim Kok Thay) and NagaCorp (Chen family), despite some operational revenue growth for their respective entities. This wealth reduction is notably influenced by factors such as a significant non-cash impairment loss for NagaCorp's Vladivostok project, impacting overall profitability. The news highlights leadership transitions within both groups amidst these financial shifts.","focusai_entities":"Lim Kok Thay, Genting Group, Chen family, NagaCorp, Genting Malaysia, Genting Plantations, Genting Singapore, Genting Energy, Resorts World Las Vegas, Resorts World Sentosa, Dato\u2019 Sri Tan Kong Han, Chen Lip Keong, Chen Yiy Fon, Forbes","focusai_location":"Malaysia, Singapore, Las Vegas, Vladivostok, Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NagaCorp Vladivostok Impact?","query":"What is the long-term strategic impact of NagaCorp's Vladivostok impairment on its regional expansion strategy and capital allocation, particularly concerning future development projects?"},{"label":"Genting Leadership Strategy?","query":"How might the leadership transition at Genting Group, with Dato\u2019 Sri Tan Kong Han as CEO, influence future capital expenditure, market diversification initiatives, and overall corporate governance frameworks?"}],"footnotes":""},"categories":[163,16333],"tags":[29,24145,2336],"class_list":["post-777025452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-casino","tag-genting-group","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025452","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=777025452"}],"version-history":[{"count":7,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025452\/revisions"}],"predecessor-version":[{"id":777025462,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025452\/revisions\/777025462"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777014930"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777025452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777025452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777025452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}