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Published on : Wednesday, May 10, 2017
The ongoing diplomatic difference of opinion between China and South Korea could reportedly be helping casino operators in other Asian nations including Genting Malaysia via its Resorts World Genting integrated casino resort.
According to a report from GGRAsia, the number of bookings made by Chinese tourists for trips to Malaysia from mid-March to the end of August had swelled by 72% year-on-year with Resorts World Genting likely to have been one of the “prime beneficiaries”.
Last year Beijing began limiting the number of Chinese nationals from traveling to South Korea due to Seoul’s decision to deploy the Terminal High Altitude Area Defense (THAAD) anti-missile system. A fair number of Chinese gamblers have decided to visit Malaysia with Kuala Lumpur-based Affin Hwang Investment Bank adding its voice to those who believe the move will ultimately benefit Genting Malaysia.
Genting Malaysia is a subsidiary of Malaysian conglomerate Genting Berhad and is also responsible for casinos in the United States, the Bahamas and the United Kingdom while its sister Genting Singapore enterprise is responsible for the Resorts World Sentosa development in Singapore.