Malaysia mulls casino at Forest City Bloomberg
Prime Minister Anwar Ibrahim of Malaysia has met tycoons Vincent Tan and Lim Kok Thay to discuss the opening of a casino within the Forest City development near Singapore, reported Bloomberg News, quoting unnamed sources.
(The Edge Singapore) – Shares of Genting Singapore G13 -2.13% , whose chairman is Lim, dropped 3.19% as a 9.10 am.
The project reportedly includes Malaysia’s King Ibrahim Iskandar, according to Bloomberg.
He is known to have an interest of around 20% in the master developer of the Forest City project, led by China’s Country Garden, as well.
According to estimates by Maybank Securities, Malaysian gamers make up 20%–30% of the revenue at Genting Singapore.
According to Bloomberg, the talks are preliminary and it’s unclear how seriously the Prime Minister is taking the idea, as it could cause a backlash in the Muslim-majority nation where gambling is frowned upon.
