Morningstar

Genting Shares Rise After Take-Private Bid for Genting Malaysia Fails

Provided by Dow Jones

By Amanda Lee 




  Genting Bhd. shares rose Tuesday after the conglomerate's bid to take listed affiliate Genting Malaysia private was unsuccessful. 



  Shares of Genting rose as much as 3.9% to 3.49 ringgit, equivalent to US$0.84, on track for their biggest one-day percentage gain since October. Genting Malaysia gained as much as 1.7% to 2.39 ringgit. 



  In October, Genting offered 2.35 ringgit a share for the 50.64% stake, or 2.9 billion shares, that it doesn't already hold in Genting Malaysia. 



  Genting raised its stake in Genting Malaysia to 73.13% as of the closure of the take-private offer on Dec. 1, according to a filing Monday. Genting needs to hold a 75% stake in the affiliate to delist it. 



  Meanwhile, Genting Malaysia's wholly owned Genting New York LLC subsidiary, which operates Resorts World New York City, has been selected by the New York State Gaming Facility Location Board to apply to the New York State Gaming Commission for a commercial casino gaming facility license, according to a statement on Monday. 



  Genting Malaysia placed a bid for a downstate New York casino license in June, detailing a US$5.5 billion plan to convert Resorts World New York City into a full-fledged casino. 



  Analysts said the casino bid bodes well for Genting Malaysia's earnings outlook. 



  Genting Malaysia's net profit generated by its expansion is estimated to "peak at a whopping" 1.93 billion ringgit in 2030, said Maybank Investment Bank analyst Yin Shao Yang in a note. 





  Write to Amanda Lee at amanda.lee@wsj.com 





  (END) Dow Jones Newswires



  December 01, 2025 22:40 ET (03:40 GMT)


Copyright (c) 2025 Dow Jones & Company, Inc.
  

					The articles, information, and content displayed on this webpage may
					include materials prepared and provided by third parties. Such
					third-party content is offered for informational purposes only and
					is not endorsed, reviewed, or verified by Morningstar.
				
 

					Morningstar makes no representations or warranties regarding the
					accuracy, completeness, timeliness, or reliability of any third-party
					content displayed on this site. The views and opinions expressed in
					third-party content are those of the respective authors and do not
					necessarily reflect the views of Morningstar, its affiliates, or employees.
				
 

					Morningstar is not responsible for any errors, omissions, or delays
					in this content, nor for any actions taken in reliance thereon.
					Users are advised to exercise their own judgment and seek independent
					financial advice before making any decisions based on such content.
					The third-party providers of this content are not affiliated with
					Morningstar, and their inclusion on this site does not imply any
					form of partnership, agency, or endorsement.
				
 

				Popular
				
 
  
 
 
 
 
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
 
Plus, a deep dive on SpaceX’s bid to challenge US telecoms. 
 
 
David Sekera, CFA and Sarah Hansen 
 
 
 
6 ETFs To Diversify Away From AI
 
A difficult problem has an easy solution. 
 
 
Daniel Sotiroff 
 
 
 
Why This Vanguard ETF Is One of the Best
 
Vanguard Total International Stock is appealing for several reasons. 
 
 
Zachary Evens 
 
 
 
The Best AI Stocks to Buy Now
 
Artificial intelligence stocks continue to attract investors, thanks to industry momentum and appealing valuations. 
 
 
Tori Brovet 
 
 
 
3 New 5-Star Stocks This Week
 
PayPay and CRISPR are now seen as significantly undervalued. 
 
 
Bella Albrecht 
 
 
 
 

			Sponsor Center