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Malaysia allegedly discussing opening a casino at Forest City: Bloomberg

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Malaysia allegedly discussing opening a casino at Forest City: Bloomberg

MALAYSIA: Malaysian Prime Minister Anwar Ibrahim has reportedly engaged in discussions with prominent business figures Vincent Tan and Lim Kok Thay regarding the potential establishment of a casino at Forest City, near Singapore, according to unnamed sources who spoke to Bloomberg.

Shares of Genting Singapore, chaired by Mr Lim Kok Thay, took a 3.19% dive as of 9:10am on Thursday.

The Edge Singapore reported that the proposed venture allegedly involves the participation of Malaysia’s King Ibrahim Iskandar, with reports suggesting his ownership interest of approximately 20% in the Forest City’s main developer, China’s Country Garden.

Maybank Securities has estimated that Malaysian gamers contribute significantly to Genting Singapore’s revenue, constituting between 20% to 30% of its total income.

According to Bloomberg’s sources, discussions regarding the potential casino are in the early stages, and it remains uncertain how seriously Prime Minister Anwar is considering the proposition. Such a move could lead to backlash from a nation where gambling is generally disapproved of.

Country Garden is reportedly enthusiastic about the prospect of integrating a casino into the Forest City development, according to an individual familiar with the matter as cited by Bloomberg.

However, a Berjaya spokesperson claimed to be unaware of any dialogue between PM Anwar and Mr Tan concerning the casino’s development within Forest City.

Despite Bloomberg’s attempts to solicit comments from the Prime Minister’s office, the National Palace, Country Garden, and Genting, no responses were received at the time of reporting. /TISG

Read also: Malaysia’s $100B ghost town: Forest City trying very hard to pull tourists in, but it’s just not working

The post Malaysia allegedly discussing opening a casino at Forest City: Bloomberg appeared first on The Independent Singapore News - Latest Breaking News

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