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Genting: Singapore Casino May Hurt Earnings

4 Jun 2004

KUALA LUMPUR, Malaysia – As reported by the Business Times: "Genting Bhd, owner of Asia's biggest publicly traded casino, said a plan by the Singapore government to set up a casino in the city state may hurt the Malaysian company's earnings.

"Genting's casino unit Resorts World Bhd may be interested in investing in the Singapore casino project if the island's government allows it to do so, Lee Choong Yan, executive vice-president for Resorts World, told reporters in Kuala Lumpur.

"…'Genting is doing everything it can to diversify but casino operations have grown to a point where they have to grow other operations at a faster rate,' said Raymond Tang of CMS Dresdner Asset Management Sdn in Kuala Lumpur…"

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