Genting International

Genting International PLC ("Genting International") is a leading integrated resorts specialist with over 20 years of international gaming expertise and global experience in developing, operating and marketing integrated resorts and casinos in different parts of the world, including Australia, the Americas, Malaysia, the Philippines and the United Kingdom ("UK"). Its market capitalisation as of 26 January 2007 was over S$5.5 billion.

Genting International was incorporated in 1984 as a subsidiary of Genting Berhad with the aim to invest in leisure and gaming-related businesses outside of Malaysia. The company was listed on the Luxembourg Stock Exchange in 1990 and has been traded on CLOB International in Singapore.

On 12 December 2005, Genting International was successfully listed on the Main Board of the Singapore Stock Exchange ("SGX"). The company received very strong demand from public and institutional investors and raised about S$350 million in gross proceeds from the issue of 1 billion new shares.

On 10 September 2006, Genting International launched a recommended cash offer of 860 pence per share for Stanley Leisure plc, the UK's largest casino operator. The bid valued Stanley Leisure at £639 million and went unconditional on 6 October 2006. On 17 November 2006, Stanley Leisure plc was de-listed from the London Stock Exchange and is now a wholly owned subsidiary of Genting International. On 20 October 2006, Genting International divested its 29.6% equity interest in London Clubs International to Harrah's Entertainment Inc. to focus on the growth and development of Stanley's business.

On 8 December 2006, Genting International, along with its partner Star Cruises, won the bid to develop the second integrated resort in Sentosa, Singapore for S$5.2 billion.

On 10 January 2007, Genting International submitted the application to de-list the company shares from the Euro MTF Market of the Luxembourg Stock Exchange.

On 12 January 2007, the company issued convertible bonds due 2012 amounting to S$425 million. The convertible bonds were listed on the SGX on 15 January 2007.

Genting International has an experienced management team that is focused on and committed to grow its business globally through strategic acquisitions, investments and collaborations.

The principal activities/core businesses of Genting International are:

Development and/or acquisitions of integrated resorts

Genting International has successfully developed and managed the Burswood Resort in Perth and provided technical advisory and management services for the establishment and operation of the Adelaide Casino. The company also acquired and developed the Lucayan Beach Resort and Casino in the Bahamas and the Subic Bay Resort & Casino in the Philippines.
Genting International has been and is active in identifying new opportunities to acquire interests in and to develop integrated resorts.
The integrated resort in Sentosa, named as Resorts World at Sentosa, is envisaged to be the ultimate "must see, must visit" family resort. It will be a Resort of resorts and Asia's most mesmerising family resort - welcoming families with a dazzling array of leisure, entertainment, learning and discovery experiences.
Resorts World at Sentosa will be home to Universal Studios Singapore, the region's first Universal Studios theme park, which will include DreamWorks Digital Animation Studios. Quest Marine Life Park, the world's largest oceanarium, will provide visitors with interactive multi-sensory experiences to learn about and discover the life of marine creatures and the need for ocean conservation while Equarius Water Park will be an exciting water theme park, incorporating the latest water theme park technology, nestled under the natural canopy of Sentosa's original forest. The Maritime Xperiential Museum, the only museum in the world dedicated to the celebration of the maritime heritage of Asia, will engage visitors' five senses to retell the fascinating history of the Asian maritime Silk Route. Resorts World at Sentosa will offer a fantastic choice of accommodation with six world-class hotels providing 1,830 rooms. It will also house the region's first fully integrated wellness spa, to be operated by luxury spa operator ESPA. The development of the integrated resort is targeted to complete by year 2010.

Casino operations

Genting International currently operates 44 casinos in the UK, including five of the most prestigious casinos in London - Crockfords, The Colony Club, The Palm Beach, Maxims Casino Club and The Mint.

Other investments

Genting International holds 8% interest in the Regent Place, Australia's first vertical modern village. The interest is held via Frasers Town Hall Pty Ltd ("Fraser"), which is a subsidiary of Frasers Centrepoint Limited, the property arm of Frasers and Neave Group. The Regent Place consists of two elegant towers, Lumière and Fraser Suites, both designed by the internationally renowned Foster & Partners.
On 3 February 2006, Genting International, via a joint venture company, 808 Holdings Pte Ltd acquired a 33.33% interest in three properties in Kensington, London. The joint venture company comprises two other partners linked to CapitaLand Ltd and HPL Properties Limited, each has a one-third stake respectively. The properties were acquired by the joint venture company for a total value of £109.4 million.

International sales and marketing services

Genting International is an exclusive marketing and sales co-ordinator of Genting Highlands Resort outside Malaysia. The company manages and maintains sales offices in various jurisdictions such as Hong Kong, Singapore, Thailand, India and appoint preferred sales agents in other jurisdictions such as China, Vietnam and Indonesia to promote Genting Highlands Resort.
Genting International markets to and refers high-end customers to Resorts World Bhd (the operator of Genting Highlands Resort) through junket, CRP and other complimentary gaming programmes.

IT application related services

Genting International provides IT application related services to the Genting Group and third parties through the eGenting platform, with emphasis on system design, maintenance, upgrade, integration, support and management for IT application services in gaming, hospitality and leisure industries.
The company administers and manages WorldCard, the customer loyalty programme for the leisure and hospitality business of the Genting Group. The programme has over 2.2 million members across Asia with over 430 participating merchants, offering lifestyle and benefits at over 2,000 retail outlets in Malaysia, Singapore and Hong Kong.

Genting International is constantly reviewing new opportunities in the leisure, hospitality and gaming businesses.

While competition is expected to increase due to legal reforms and liberalisation of the gaming industry in the United Kingdom and the Asian region, Genting International believes the outlook for the gaming industry in these jurisdictions remains healthy and will provide strong growth opportunities for the Group in the next few years.