KUALA LUMPUR, Nov 6 — Shares of gaming group Genting gained today after a top executive said the company is on track to launch a new casino in Singapore by January next year.
By 11.24am, Genting shares gained 0.98 per cent to RM7.22 ringgit a share on trading volume of 1.69 million shares.
Shares of Genting Malaysia, which houses the group’s Malaysian casino and leisure business, added 1.5 per cent on volume of 3.47 million shares.
The KLSE was up 0.7 per cent.
Genting’s Singapore unit, Genting Singapore is building Resorts World Sentosa, the city-state’s second integrated resort.
“Construction is going on smoothly. We are targeting to open it by early January 2010,” Genting Chairman and CEO Lim Kok Thay told reporters in Kuala Lumpur yesterday.
Resorts World Sentosa is expected to be one of the group’s key earnings drivers in the future.
In Singapore, shares of Genting Singapore was up 2.86 per cent.
A January opening will ensure that “Resort World Sentosa can fully capture holiday-makers during next year’s Chinese New Year festivities,” said analysts at CIMB Research. — Reuters
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