Berjaya eyes casino investments, looks outside Malaysia for growth

Malaysia’s Berjaya Corp is seeking casino joint ventures in South Asia, looking for growth outside of its home country, Bloomberg cited founder Vincent Tan as saying in an interview.

The company also plans to sell shares in its environment services division in Singapore to raise funds for growth in the business.

The company is interested in finding a partner for a gaming project in South Korea and wants to join a consortium in Japan.

Casinos are “no longer a very lucrative business unless you go to some countries like Japan,” Tan was cited as saying. “Lots of casinos still focus on high rollers but the mass market is still very big.”

Berjaya has 100 acres of land in Okinawa prefecture and it can be used for a gaming resort should the government decide to open one there, Tan said.

Earlier this year, Tan indicated he may try to revive a plan for a casino license at his Berjaya Hills Resort in Malaysia, breaking the current monopoly held by Genting Bhd. Analysts said the idea of a second casino in the country was a long shot.

Genting is also investing heavily on overseas expansion, with projects in the works in the U.S., South Korea and plans for a license bid in Japan. It also owns integrated resorts in Singapore and the Philippines and has casino interests in the U.K.

 

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts