Malaysian gambling giant Genting Malaysia Berhad (GMB) has been steadily growing its operations in Macau, Malaysia and Singapore. Recently the company began implementing an aggressive expansion strategy in the United States, Europe and the United Kingdom.
Gentling currently has 44 profitable casino properties within its portfolio and is a bona fide cash cow with enough liquidity to enable the Malaysian gambling powerhouse to rapidly enter new markets through strategic acquisitions.
Its recent investments in the UK-based gaming operations include both land-based and online casinos in United Kingdom have been favorably received by analysts. The properties have already generated over $19 million in profits, which was well over the projected figures. UK gaming continues to bring GMB increased profits despite the volatile economy and cut throat competition.
All properties acquired by GMB naturally operate under British gambling laws and are expected to infuse even more cash into the already cash heavy company . Industry experts admire the business acumen and intuition of GMB executives who guided the Malaysian company as it quickly established itself as a force to be reckoned with in the British gaming market.
Online gambling news in United Kingdom reports that GMB firmly believes that within the next few years the United States gambling industry will be completely liberalized. Genting has ambitious plans to turn Miami into a “mini Macau”. The company’s project in Florida will be situated on a 14 acre site and is valued at $236 million. Apart from Florida, GMB has already opened a gaming facility in New York, featuring video lottery terminals, food and drinks retailers, expo and convention center and other facilities.
Genting took a gamble, expecting liberal gambling regulations in USA and in Florida in particular. In case they stuck a jackpot with change in laws, the company is expected to prosper geometrically, however there is a chance the laws will not change any time soon. So far GMB has never been wrong, let’s wait and see what happens this time.