Genting Malaysia loses RM3.15b market cap on earnings erosion risks

Genting Malaysia Bhd (GenM) saw as much as RM3.15 billion in market capitalisation wiped off as its share price tumbled as low as 14.68% or 53 sen to RM3.08 at the early morning trade, after the firm acquired 46% of the common stock in Nasdaq-listed gaming and entertainment company Empire Resorts Inc from Tan Sri Lim Kok Thay, via Kien Huat Realty III Ltd.