The largest casino in the entire country of Hong Kong is Holland America Cruise Line Volendam which is located in Kowloon. Holland America Cruise Line Volendam has 8 table games, 72 gaming and video poker machines. Apr 26, 2016 Hong Kong from the deck of the Rex Fortune. On a misty April night, a motley crew of passengers boards the Rex Fortune, a 600-passenger cruise ship.Most speak Cantonese and have Hong Kong. Hong Kong casinos, cruise ships, horsetracks and dogtracks - the complete gambling landscape of Hong Kong. Includes Hong Kong casino details, gambling news and tweets in Hong Kong, area maps, Hong Kong entertainment, coupons offers.
| Publicly traded company | |
| Traded as | MYX: 3182 |
|---|---|
| ISIN | MYL3182OO002 |
| Industry | Hospitality and plantations |
| Founded | 1965; 55 years ago |
| Founder | Lim Goh Tong |
| Headquarters | 24th Floor, Wisma Genting, 50250 Kuala Lumpur, Malaysia |
Area served | Worldwide |
| Lim Kok Thay, Chairman & Director | |
| Products | Hotel, casino and entertainment |
| Services | Tourism, resorts, cruises, gambling, plantations and Genting Energy Limited |
| Revenue | RM 8.9 billion (2016) |
Number of employees | 58,000 globally |
| Parent | Kien Huat Realty |
| Subsidiaries | Genting Malaysia Berhad Genting Plantations Berhad Genting Singapore PLC Genting Hong Kong Kient Huat Realty Genting UK PLC |
| Website | www.genting.com |
The Genting Group is a company headquartered in the Wisma Genting in Kuala Lumpur, Malaysia.[1] It comprises the holding company Genting Berhad (MYX: 3182), its listed subsidiaries Genting Malaysia Berhad (MYX: 4715), Genting Plantations Berhad (MYX: 2291), Genting Singapore Plc (SGX: G13), as well as its wholly owned subsidiary Genting Energy Limited.[2][3]
Founded in 1965 by the late Malaysian entrepreneur Tan Sri Lim Goh Tong,[4][5] the Genting Group is headed by Tan Sri Dato Seri Lim Kok Thay, the Chairman and Chief Executive, who joined the group in 1976.[6]
Since its founding in 1965, the Group has garnered over 52 years of experience in developing, operating and marketing casinos and integrated resorts in different parts of the world, including the Americas, Australia, Malaysia, the Philippines, Singapore and United Kingdom.[2][3][7] The group's pioneer integrated resort is Resorts World Genting, formerly known as Genting Highlands Resort. The main attractions of the resort are its casino, theme park, concert shows, food & beverage and retail shopping.[4][3]
From its initial leisure and hospitality activities, the Genting Group has expanded and diversified into other activities including plantations, properties, power generation, oil and gas, e-commerce, information technology and biotechnology.[4][3][7]
The Group and its affiliates employ about 62,000 people worldwide and has over 4,500 hectares (11,000 acres) of prime resort land and 238,400 hectares (589,099 acres) of land for plantation.[8]
- 3Resort and casino properties
Group structure[edit]
Genting Berhad is the parent company and holding company that manages investment in other companies. Headquarters in Malaysia. It is listed on the main board of Bursa Malaysia, with market capitalisation of US$9.4 billion as at 31 December 2014.[9] In 2017, the market capitalisation has increased to US$ 37.87 billion.
- Genting Singapore PLC (52.8% owned by Genting Berhad) – investment holding company. It is listed on Singapore Stock Exchange. Market capitalisation is US$9.9 billion as of 31 December 2014.[9]
- Genting Malaysia Berhad (49.3% owned by Genting Berhad) – It is involved in leisure and hospitality, gambling and entertainment which includes its casino businesses in Malaysia, in the Americas and United Kingdom. Genting Malaysia owns and operates major properties including Resorts World Genting in Malaysia, Resorts World Casino New York City in the US, over 40 casinos including Resorts World Birmingham in the UK and Resorts World Bimini in the Bahamas. It is listed on the main board of Bursa Malaysia with market capitalisation of RM26 billion as of 31 December 2016.[10]
- Genting Hong Kong Limited, formerly known as Star Cruises Limited, is listed on the Singapore and Hong Kong Stock Exchange.[11]
- Genting Plantations Berhad (51.9% owned by Genting Berhad) – is involved in plantations, biotechnology and property, which includes its property arm, Genting Property. Genting Plantations owns 259,700 hectares of land in Malaysia and Indonesia. It is listed on the Main Market of Bursa Malaysia with US$2.2 billion market capitalisation as of 31 December 2014.[9]
- Kien Huat Realty – the real estate development and investment entity created by Genting founder Lim Goh Tong owns 39 percent of Genting Berhad.[12]
Diversification and expansion[edit]
In December 2006, Genting Group won the bid in obtaining one of two Singapore casino licences to build an integrated resort, named Resorts World Sentosa, under Genting Singapore.[13] The project requirements includes hotel, gambling, leisure facilities, convention space and retail.
In 2007, Genting Plantations ventured into biotechnology to develop synthetic genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with 'Synthetic Genomics'.[9]
In July 2007, Genting Group disposed of its paper and packaging business.[9]
In August 2009, Genting Hong Kong opened Resorts World Manila in partnership with Alliance Global Group. It is one of four groups that won approval in 2008 to build hotels and casinos as part of Philippines' US$20 billion Pagcor City development on Manila Bay.[14]In June 2009, Genting Group supported the capital raising exercise of MGM Mirage.[15]
In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group, as part of a wider 7,000-acre (2,800 ha) integrated township project in the southern state of Johor.[16]
In September 2010, Genting New York won a bid to build a racino at Aqueduct Racetrack in New York City, the first step of a planned expansion in the United States.[9] Among the attributes of the plan was providing a diversion for passengers on long stays at John F. Kennedy International Airport.[17] Resorts World New York opened in October 2011.[18]
In May 2011, Genting Malaysia purchased 14 acres (5.7 ha) of Biscayne Bay front land surrounding the headquarters of The Miami Herald for US$236 million; The McClatchy Company announced that the Herald and El Nuevo Herald would be moving to another location by 2013.[19] The land is to be used for a mixed-use development, Resorts World Miami, that would include hotels, restaurants, residences, retail shops and a convention centre. Genting Group sees the Miami land acquisition as an integral step in its pursuit of expanding internationally in the leisure, hospitality and entertainment industry.[citation needed]
In June 2011, Genting UK was awarded a casino licence for a 55,000 sq-metre mixed-use facility in Birmingham.[20] The development is in partnership with the NEC Group.
Cruise Ships Hong Kong
In March 2013, Genting bought the site of Echelon Place, an unfinished casino resort on the Las Vegas Strip, and announced plans for Resorts World Las Vegas.[21]
In May 2015, Genting Hong Kong purchased 100% ownership of Crystal Cruises and plans for expansion into river cruising, private jet charters using Boeing 777 aircraft and the new build of three 100,000 GRT mega cruise ships was announced for the brand. Genting were also announced to build a 204,000 GT ultra luxury and giant cruise ship.
In 2016, Genting has announced the building of Resorts World Miami. This project will cost about US$3 billion. This project has the world's biggest swimming pool.
In 2017, Genting announced they would build a new resort, Resorts World Catskills.
In January 2018, Genting announced plans to build a new casino resort in Andorra. The resort is expected to cost EUR€ 105 million and will host many different musical and cultural events.[22]
Resort and casino properties[edit]
Malaysia[edit]
- Resorts World Genting, Genting Highlands, Pahang, Malaysia
- Awana Genting Highlands Golf & Country Resort, Genting Highlands, Pahang, Malaysia
- Resorts World Kijal, Terengganu, Malaysia
- Resorts World Langkawi, Kedah, Malaysia
United Kingdom[edit]
As of December 2010, Genting Malaysia owns the largest number of casinos in the UK, with 47:[23]
- Crockfords Club, London
- The Colony Club, London
- The Palm Beach Casino, London
- Maxims Casino Club, London
- Genting Casino, Bolton
- Genting Casino, Bournemouth
- Genting Casino, Blackpool
- Genting Casino, Brighton
- Genting Casino, Bristol
- Genting Casino, Coventry
- Genting Casino Cromwell Mint, London
- Genting Casino Edgbaston, Birmingham
- Genting Casino, Glasgow, Scotland
- Genting Casino, Leicester
- Genting Casino, Leith, Scotland
- Genting Casino, Luton
- Genting Casino, Margate
- Genting Casino, Newcastle
- Genting Casino, Nottingham
- Genting Casino, Plymouth
- Genting Casino Renshaw Street, Liverpool
- Genting Casino, Salford
- Genting Casino, Torquay
- Genting Casino York Place, Edinburgh, Scotland
- Genting Chinatown Casino, Birmingham
- Genting Chinatown Casino, London
- Genting Casino Fountainpark, Edinburgh, Scotland
- Genting Casino, Manchester
- Genting Casino Queen Square, Liverpool
- Genting Casino, Reading
- Genting Casino Riverlights, Derby
- Genting Casino, Sheffield
- Genting Casino, Southport
- Genting Casino, Stoke-on-Trent
- Genting Casino Terminus Terrace, Southampton
- Genting Casino, Wirral
- Genting Electric, Luton
- Genting Electric, Portsmouth
- Genting Electric Westcliff, Southend
- Maxims Casino, Southend
Genting owns the Park Lane Mews Hotel in Mayfair, London.
Singapore[edit]
- Resorts World Sentosa
- Universal Studios Singapore (partner with Universal Studios)
- Genting Hotel, Jurong
Hong Kong[edit]
- Genting Hong Kong
- Genting Cruise Lines[24]
Philippines[edit]
- Pagcor Tower (cancelled)
- Resorts World Manila (in partnership with AGI)
- Resorts World Bayshore City (Under Construction-Part of Entertainment City)
USA and the Caribbean[edit]
- Resorts World Las Vegas (planned 2020)
- Resorts World Miami (planned)
- Resorts World Catskills (Owned & managed by Empire Resorts, an 88.7% subsidiary)
- Norwegian Cruise Line, headquartered in Miami
- Casino of the First Light,[25] (planned)
- Resort World Hudson Valley (planned)
Korea[edit]
- Resorts World Jeju (planned)
China[edit]
Investments in the United States[edit]
- Foxwoods Resort Casino, Connecticut (capital loan to the Mashantucket Pequot tribe through Kien Huat Realty)[26]
- Seneca Niagara Casino & Hotel, Niagara Falls, USA (capital loan to Seneca Nation of Indians through Kien Huat Realty)[27]
- Monticello Raceway, Catskills (majority shareholder of Empire Resorts through Kien Huat Realty)[28]
- Massachusetts Region C casino development (financing the development and lobbying expenses behind Wampanoag peopleCasino of the First Light[25][29]
Previous properties[edit]
- Burswood Entertainment Complex, Perth, Australia (formerly known as Burswood Island Casino)
- Lucayan Beach Resort and Casino, Bahamas (in partnership with the Bahamian government)
Cruises To Hong Kong
Aston Villa Football Club sponsorship[edit]
An announcement was made on 22 June 2011 that Genting would become the new principal partner of English Premier League club Aston Villa. Details of the partnership reveal that Aston Villa home and away jerseys will display the Genting Casinos branding. The deal ran for two seasons, from July 2011 to July 2013.
Notes[edit]
- ^'Corporate Information.' Genting Group. Retrieved on September 11, 2017. 'REGISTERED OFFICE Address 24th Floor, Wisma Genting, Jalan Sultan Ismail, 50250 Kuala Lumpur'
- ^ ab'Corporate Profile'. www.genting.com. Retrieved 18 August 2018.
- ^ abcdGenting Berhad Annual Report 2016, profile page.
- ^ abc'History'. www.genting.com. Retrieved 18 August 2018.
- ^My Story - Lim Goh Tong, page 77.
- ^Genting Berhad Annual Report 2016, directors' profile, page 4.
- ^ abMy Story - Lim Goh Tong
- ^Genting Berhad Annual Report 2015, profile page
- ^ abcdef'Genting Group is Malaysia's leading multinational corporation'. genting.com. Archived from the original on 6 December 2012.
- ^ Genting Malaysia Annual Report 2016
- ^'Genting Hong Kong'. www.gentinghk.com. Retrieved 18 August 2018.
- ^Genting Berhad Annual Report 2016, page 174.
- ^'Genting-Star Cruises consortium wins Sentosa integrated resort project'. Yahoo! News. wildsingapore.com. 8 December 2006. Retrieved 31 May 2011.
- ^'Archived copy'. Archived from the original on 24 September 2015. Retrieved 7 March 2017.CS1 maint: archived copy as title (link)
- ^'Malaysia's Genting pays $100 mln for MGM stake-paper'. 10 June 2016 – via Reuters.
- ^[1]Archived 6 November 2012 at the Wayback Machine
- ^Massey, Daniel (3 August 2010). 'Last Aqueduct racino bidder gets state blessing'. Crain's New York Business. Retrieved 31 May 2011.
- ^'New York State Gaming Commission'(PDF). gaming.ny.gov.
- ^Hanks, Douglas (27 May 2011). 'Miami Herald parent sells land for $236 million; newspaper operations unaffected'. The Miami Herald. Retrieved 31 May 2011.
- ^'Birmingham Post: Business news, local news, expert opinion'. birminghampost.net.
- ^Richard N. Velotta (4 March 2013). 'Old Stardust site being sold for new Strip casino'. Vegas Inc. Retrieved 4 March 2013.
- ^'Genting Group to Invest €105m in Andorra Casino Resort'. CasinoReviews.co.uk. 5 January 2015. Retrieved 15 January 2018.
- ^Genting Group 2010 Annual ReportArchived 17 August 2011 at the Wayback Machine, Genting Berhad, 6 May 2011.
- ^'Genting Cruise Line'. Genting Group.
- ^ ab'Casino Of The First Light Resort And Casino'. casinoofthefirstlight.com.
- ^Foxwoods loan deals with Malaysian investors raise concern, worsen debt, Connecticut Post, 23 November 2009.
- ^Tribal Casino Rules Revisited, Wall Street Journal, 21 September 2009.
- ^Empire Resorts Concludes $55,000,000 Investment Agreement with Kien Huat Realty III LimitedArchived 24 September 2015 at the Wayback Machine, Empire Resorts Press Release, 19 August 2009.
- ^Genting circling Massachusetts as House eyes casino vote, Gambling Compliance, 9 May 2011.
External links[edit]
Genting Hong Kong plans to add ten luxury cruise ships to its gaming empire. If its order with Germany’s Lloyd Werft Group happens, then Genting might expand its luxury cruise ship business in Hong Kong.
Already, Genting owns some of the biggest luxury cruise liners in the world: Star Cruises, Crystal Cruises, and Dream Cruises. The company plans to buy eight 50,000-ton ships for the Crystal Cruises line, which focuses on the international market.
Hong Kong Cruise Ship Terminal
Star Cruises and Crystal Cruises
Genting Hong Kong also plans to buy two 200,000-ton cruise liners for the Star Cruises, which cater to Chinese mainland visitors. All are expected to have onboard casino rooms, as the ships plan to sail in international waters, where gambling is not illegal.
The decision to launch a number of cruise ships out of Hong Kong in the next few years comes at a time when certain Hong Kong operators are closing their doors. Online Casino News reported recently about a casino cruise ship which was owned by a junket operator which simply sits in the port. The crew of the ship refuses to leave the ship, until they are paid 6 months of back pay.
That kind of casino cruise company is much different than Genting, though. The junket operators were largely fly-by-night schemes set up by people with lots of money and the ability to collect gambling debts from mainland Chinese residents without appealing to the mainland’s court system. Because there are only a few ways to collect debts when the court system won’t help, most people believe the junket operators were back by money from Chinese organized crime, the triads.
Thus, as the illegitimate casino cruise businesses get out of the market, Genting Hong Kong is making a move to dominate the niche with its own legitimate cruise line.
Global Class Chips
Hong Kong Cruise Ship Port
Genting Hong Kong said in a statement that it hopes to turn the cruise liners into “global class ships”, which suggests there should be no ship in the industry of more value, prestige, or capacity.
In their statement, Genting said, “The rapid growth of the world cruise industry, especially in China, has led to global cruise ship orders reaching an all-time high. As a consequence, the Group faces the potential risk of being unable to obtain sufficient cruise ship building slots at acceptable prices to implement its planned 10 year cruise ship fleet strategy for its three cruise brands, Crystal Cruises, Dream Cruises and Star Cruises.”
To that end, Genting recently purchased 3 shipyards from Lloyd Werft Group for $250.8 million. The shipyards are going to assure that construction is completed on time. The gaming company turned to Lloyd Werft Group for its expertise, as the German-based company which designs some of the world’s foremost cruise ships. The latest set of deals represent a strategic partnership.
Rudiger Pallentin on the Deal
Rudiger Pallentin, who serves as the managing director of Lloyd Werft Group, said that Genting Hong Kong chose his company because it wants to build high-quality ships. Pallentin also described how China has become the producer of big ship components, while also financing and handling operations for shipbuilding. Germany now plays an assembling role, but does not produce the big parts used in construction.
Genting Hong Kong says it expects all 10 ships to be ready by the 2020. If so, then Genting will go from being one of the giants of the casino cruise industry to becoming a mainline competitor.
About Genting Group
Genting Group owns Resorts World Sentosa in Singapore, one of the largest casinos in the world. It also owns Resorts World New York City, the only casino in the New York City greater metropolitan area. At present, Genting is building the $4 billion Resorts World Las Vegas, which is going to be the most expensive casino ever built in the history of Las Vegas.
Besides its various standing casinos, the Malaysian gaming company is seeking licenses in South Korea and other Asian countries. Already, Genting Group owns rubber plantations and oil platforms in Southeast Asia.
Dream Cruises: First-Ever Asian Luxury Cruise Line
Genting Hong Kong describes its new Dream Cruises’ line as the first-ever Asian-owned luxury cruise line. Dreams Cruises plans to launch two new vessels in the next 18 months.
The first vessel to launch will be Genting Dream, which is expected in late 2016. The second vessel to launch will be World Dream, which is expected to launch in late 2017. These vessels are expected to sail out of Hong Kong.
Genting Hong Kong’s company profile shows a number of different business ventures, besides its cruise ships. The company also owns Zouk, a chain of nightclubs. Its biggest venture is the billion-dollar Resorts World Manila, also known as “RWM”.