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Genting Malaysia Bhd (KL:GENM) said the lawsuit filed by RAV Bahamas Ltd, seeking over US$600 million (RM2.57 billion) in damages related to Resorts World Bimini's operations, will not materially impact the group's financial results or operations.
Looks like in the past several days, the price had stabilized. I saw many buyers took advantage to buy between 3.97 and 4.05.
let them sort it out. we get to see GAI's legal team in actions :) Closer to Genting: Budget today, followed by TauRx in 2 months time assuming 1st July is the acceptance date from UK MHRA, followed by RWS2.0 soft launching early 2025 and the big event RWNYC full casino license bidding in 2025.
No negative surprises from the budget. Next major event unfolding will be TauRx's approval status by UK MHRA latest by Dec'24 based on 150 days approval process.
pretty similar nature of lawsuits on Wynn Resorts for failing to determine the source of funds. Lets see whether gaming commission will take similar action on Wynn Resorts :) For now, market has irrationally sold down Genting :)
Will Wynn Resorts investors aka funds/insti be freaked out that Wynn Resort's license will be revoked/suspended? And I have not seen local media in the US linking the lawsuit to possible impact on Wynn Resorts New York casino license bid :)
