Genting Malaysia Bhd: Strategic Expansion with Empire Resorts Acquisition

In a significant move to bolster its global presence, Genting Malaysia Bhd has announced the acquisition of full control over Empire Resorts Inc. This strategic transaction, valued at US$80.7 million (approximately RM348.01 million), marks a pivotal expansion for the tourism-oriented conglomerate, known for its flagship resort in Genting Highlands, Malaysia.

The acquisition involves Genting Malaysia taking over the remaining 51% stake in Genting Empire Resorts LLC (GERL) from Kien Huat Realty III Ltd, a company associated with the Lim family. This deal not only grants Genting Malaysia complete ownership of Empire Resorts but also includes the assumption of US$39.7 million in debt that Empire Resorts owed to Kien Huat Realty III. The transaction, which was finalized with a payment of US$41 million (RM177 million) for the stake, positions Empire Resorts as an indirect wholly-owned subsidiary of Genting Malaysia.

This move is part of Genting Malaysia’s broader strategy to enhance its portfolio in the leisure and hospitality sector. By gaining full control of Empire Resorts, Genting Malaysia strengthens its foothold in the lucrative U.S. market, complementing its existing operations in Malaysia and other regions. The acquisition is expected to provide synergies and growth opportunities, leveraging Empire Resorts’ established brand and market presence.

Financially, Genting Malaysia’s market capitalization stands at approximately MYR 10.39 billion, with a close price of MYR 1.75 as of May 1, 2025. The company’s price-to-earnings ratio is currently 41.35, reflecting investor sentiment and market conditions. The acquisition is anticipated to be a strategic investment that could enhance long-term shareholder value, despite the immediate financial outlay and debt assumption.

In addition to this major acquisition, the business landscape saw other notable transactions, such as CIMB Bank’s purchase of properties from the Employees Provident Fund Board (EPF) for RM209.81 million. These developments highlight a dynamic period for corporate activities in Malaysia, with companies actively restructuring and expanding their asset bases.

Overall, Genting Malaysia’s acquisition of Empire Resorts is a testament to its aggressive growth strategy and commitment to expanding its global tourism and hospitality footprint. As the company integrates Empire Resorts into its operations, stakeholders will be keenly watching for the potential benefits and growth trajectories that this acquisition could unlock.