Genting sells UK egaming arm to parent company for £7.2m
Acquisition to help streamline the group's egaming business under single management team
Genting Alderney has sold its UK-facing online gaming business to Malaysia-based parent company Genting Malaysia Berhad for £7.2m in a deal it says will boost its multi-channel aspirations.
Genting’s digital arm is currently held by Genting Alderney, a wholly owned subsidiary of RWI International Investments, in turn owned by Genting and its chairman Lim Kok Thay.
The firm said the move would streamline the group’s gaming business under a single management team.
“Genting Malaysia Group is optimistic about the future outlook of the UK online gaming in the long term as the operating environment in the UK gradually strengthens and the economy improves moderately,” the operator said in a filing with Bursa Malaysia.
“Following the proposed acquisition, the operations of Genting Alderney and GUK are expected to be streamlined as an integrated online, mobile and retail gaming business under the focus of a single management in order to deliver a seamless multi-channel customer experience in the UK.”
Genting Alderney launched a new multi-million pound advertising campaign this month in a bid “attracting serious casino players” and grow its footprint in the UK market.
Last year the operator launched a live casino in conjunction with software supplier Comtrade Gaming aimed at its VIP client base.