will the funds/insti/shareholders from GenM that accepted the takeover offer initiate/increase position in Genting? The takeover exercise resulted in higher debt for Gent from the takeover exercise but also increases the profits attributable to owners. The higher debt arising from MTN has a short tenure though. Maybe owners are confident to be able to list in US and capital generated from US listing will be able to pare down the debt?

For now seem hard but since Genting have more than 73 percents in hand.. just have to get another 2 percents more will not comply with public shareholdings and can opt to delist GenM.. so those who not accepted might be problem if delist due to compliance issues.

Agreed with you that unlikely to go for US listing without privatization and delisting. GenM becoming illiquid stock as owners and PACs can't buy higher than 2.35 without extending the better price to those that accepted within 6 months after closing date.

Ikan Bilis are dealing with Gaming tycoon. The hidden Ace Joker will be used as >100m shares @ 2.35 can be easily accumulated within this week for “regulatory” Bursa delisting (not automatic as it is < 90%) to take place in due course once public shareholdings spread < 25%. Genting already fully compliant based on their full disclosure in their offer documents.

Lol, limit up. RPT of Empire Resorts to GenM - thats a pro move. 73.13% right at the closing date when many thought that it will not be even close to 70% - thats a pro move. Privatization of GenM to make way for restructuring and US listing - thats a pro move if US listing is successful.

There is no automatic 1-year”waiting period” under the Code that says a 73% holder must wait 1 year before buying more — at least nothing in the publicly available Take-over Rules as creeping rules no longer in effect as > 50% and MGO completed. Of course, if subsequent transactions >2.35, previous offerees that accepted have to be compensated accordingly based on on the differential.

High risks for NY casino successful licence bid based on huge CAPEX & expensive borrowings required (instead of internal funds) if we look at the recent closures of casinos in USA & Macau. In addition, Genting total borrowings are rather high now as compared to Cash Rich position previously.

pp wont help in my personal opinion, TN. The only way is to opt for US listing. and that requires restructuring and privatization of GenM unless a win2 approach of special dividend from the sale of US assets which is unlikely now with 73% as of yesterday.

are you referring to genm, jordan? if you look at the shareholdings of genm in annual report - 78.7% shares held by 3.1k shareholders with min 100k shares including Genting Berhad. 73.13% shareholding held by GenT as of yesterday. GenM price came down (supply >> demand) and most likely shareholders with min 100k shares that did not accept the offer changed their mind after seeing Gent holding 73.13% at the offer closing date.

I don't think they will lower the tax for now mainly due to the other's two license holders are operating green field and only able to open their casino by 2030.. means Resorts World New York is the only full casino operators in New York for the next few yrs. Genting request is not to lower now but standardise the tax across 3 players for fair competitions once 2030 when both started. As such, we can only knew whether the authority will standardise as per Genting gaming tax structured.

New York to Consider Regulating Online Casinos. Senator Joseph Addabbo Jr., chair of the Senate’s Racing, Gaming, and Wagering Committee, says New York is ready to have “serious discussions” about online casinos.

Key Takeaways
New York banned unlicensed online sweepstakes casinos earlier this month.
The New York Gaming Commission just conditionally approved three new brick-and-mortar casino proposals.

Senator Addabbo says the next step for the Empire State could be regulated iGaming.
On Dec. 5, New York Governor Kathy Hochul signed Senate Bill 5935 into law, banning sweepstakes gambling. New York became the sixth state this year to do so. The bill was sponsored by Senator Addabbo. But Addabbo isn’t averse to online casino gambling in the Empire State.

In a recent statement, Addabbo said his sweepstakes bill “is not the end of the conversation, but rather a necessary step toward responsible modernization of New York’s online gaming landscape.”

“By shutting down unsafe, unregulated sweepstakes casinos, New York is reaffirming that if online gaming is going to exist in this state, it must be legal, well-regulated, and built with strong consumer protections,” Addabbo said. “With downstate casino licensing progressing and the illegal sweepstakes loophole now closed, the state is better positioned to hold serious discussions about regulating and potentially legalizing iGaming in the near future, possibly as part of the upcoming budget process.

“My priority is to ensure safety, prevent problem gambling, generate much needed, significant revenue, and keep New York competitive with surrounding states.”

With several gambling-related decisions behind it, New York should have more time to consider regulating iGaming. Earlier this month, the New York Gaming Facility Location Board approved three retail casino proposals. On Monday, the New York Gaming Commission conditionally approved all three proposals.

Hard Rock’s Metropolitan Park, Bally’s at Ferry Point Park, and Resorts World’s in Queens were all approved on the condition that they agree to independent monitoring, ensuring they keep the promises they made during the bidding process. It remains to be seen how much competition they could face if online casinos are eventually legalized in New York.

Should be expecting Gent to issue MTNs again for the NY casino license. usd 600mil license fee (100mil more compared to the other two) plus 10% from the usd5.5bil investment within 30 days after the license is awarded. that's equivalent to rm4bil plus cash outflow in Q1'26.

need to sort out GenM's privatization first since ratings downgrade is partly triggered by the move. sort it out, restructure, and list US ops. Use the proceeds from listing to pare down the debt. and lets not forget GenS, and O&G segment will continue to see higher capex in coming years. GenS license periodic review up in 2026 and the review for license renewal in 2027.

the show is not over yet. 3 bil MTN and there should be another 3 bil as initial takeover docs showing 6.3 bil debt financing for the acquisition. So, if the owners are adamant to delist GenM @2.35, should be expecting another 3 bil MTN in the future

the owners are using the profit from the ops to service the MTN :( as for how much is the interest, you can go to Bank Negara website to retrieve the 3 month KLIBOR rate ~3.3% and plus 1.80% which makes it 5.1% interest rate. multiply by 3 bil which is approx 153 mil annual interest payment for this particular 3 bil MTN.

soxai no care,u care,so u loss jo.....soxai thai 想尽办法 take more money inside company only,confirm not in pn17 enough,another not important with soxai thai.....so many people or u also dun believe this story only............Hahahaha