Published by BARONMAG
One of the top companies involved in the casino industry is the Genting Group. Officially headquartered in Malaysia, the company was founded in 1965 and since then have accumulated significant experience creating, operating and marketing casinos and resorts all over the world. Currently, the group has properties in the United Kingdom, America, Australia, Malaysia, the Philippines and Singapore and is trying to expand their holdings into Canada.
The Toronto area has been the site of potential casino expansion as the Ontario Lottery and Gaming Corporation has considered all applicants carefully. In the end, a consortium was selected involving the Great Canadian Gaming Corporation and Brookfield Business Partners. As a result of this deal, the consortium will be the new owners and operators of the slot facilities at both Woodbine and Ajax Downs. The Great Blue Heron Casino is also included in this deal.
Overall there were three companies including the Genting Group that made it to the final round of bidding for the deal set to last at least 22 years. Brookside Asset Management and Caesar’s Entertainment were the two others. Undoubtedly the success of the Great Canadian Gaming Corporation is what helped them to secure the deal. This loss will set back the Genting Group’s desire to expand into Canada.
While the Genting Malaysia parent company seems to be lagging in success behind that of its subsidiaries, the Genting Group is attempting to expand its holdings to boost the company’s stature. Some predict that the group’s shares could fall significantly due to the impending case of the Wampanoag Tribe.
Despite this setback, many believe the Genting Group will continue to try to expand into new markets including Canada. With casino gambling become even more popular today thanks for online and mobile casinos, the demand for land-based venues also continues.