Genting Bhd sell UK online gaming operation to Genting Malaysia
In a story that makes far more sense that it might immediately seem to, Genting Bhd – the management company of the Genting Group, has sold it UK online gaming operation to Genting Malyasia (GENM)
It’s a tale that initially seems somewhat bizarre. However, the decision is in line with an overriding company directive to streamline the company’s UK gaming business under one management.
As things currently stand, the online gaming business is part of the Genting Alderney division which is owned by UWI International Investments.
In buying the online division, GENM will have to part with £7.2 million.
In a statement concerning the purchase, Genting said that the move would help streamline its business in Britain.
Genting’s UK set-up is currently based around the ownership of a large number of land-based casinos.
“GENM Group is optimistic about the future outlook of the UK online gaming in the long term as the operating environment in the UK gradually strengthens and the economy improves moderately,” a Genting representative explained.
“Following the proposed acquisition, the operations of Genting Alderney and GUK are expected to be streamlined as an integrated online, mobile and retail gaming business under the focus of a single management in order to deliver a seamless multi-channel customer experience in the UK.”