Genting to spend $3-4 billion in Las Vegas in push for U.S. gaming empire

Genting Bhd, Southeast Asia’s biggest gaming group, will spend an initial $3 billion to $4 billion to develop an unfinished resort on the Las Vegas strip, as it seeks to build a U.S. empire of casino and leisure assets. Genting, which has held Malaysia’s sole casino license since the 1960s, has focused its international expansion drive on the United States. Genting bought the Las Vegas resort this year from Boyd Gaming Corp for $350 million, in its first push into the U.S. gambling mecca dominated by the likes of Las Vegas Sands. “We are looking at $3-4 billion in total if we get approval for a casino license (in Las Vegas),” Chief Executive Officer Lim Kok Thay, who was widely credited with Genting’s global expansion, told reporters.

    

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