KUALA LUMPUR (June 14): Genting Bhd (KL:GENTING) is still looking at opportunities to list in the US, with the intention of unlocking shareholder value.

Quoting president and chief operating officer Datuk Seri Tan Kong Han as reported by Sin Chew Daily as telling investors at Genting’s annual general meeting, industry magazine Inside Asian Gaming (IAG) said that pursuing the listing plan would depend on finding the right time, but this remains an opportunity of interest.

Genting’s US operations include the US$5 billion (RM23.58 billion) Resorts World Las Vegas, plus Resorts World New York City, Resorts World Catskills and Resorts World Hudson Valley via subsidiary Genting Malaysia Bhd.

Tan reportedly said that listing in the US can unlock shareholder value and enhance the value of the group.

“We will obviously pay attention to this matter, but we also need to observe the environment in the US, and it will depend on the situation,” he said, according to IAG.

The report added that Tan had also confirmed the group’s interest in exploring possible integrated resort developments in emerging jurisdictions, such as Thailand and the United Arab Emirates, stating that it had previously demonstrated its ability to operate across multiple jurisdictions by obtaining licences in the US and UK.

IAG said it is unclear whether Tan is specifically looking to Thailand, where one of the group's subsidiaries, Genting Singapore, had already expressed keen interest.

Nevertheless, IAG added that Tan is confident in the short-term outlook for the group, as it continues its post-Covid momentum.

He reportedly said the global economic environment is expected to gradually improve.

“While there are still concerns about geopolitical tensions and the impact of monetary policy, and downside risks still dominate", ongoing growth of home-grown Resorts World Genting will be supported by strong domestic demand, Tan said, according to IAG.

At the time of writing on Friday, Genting had gained 0.43% or two sen to RM4.71, with 866,700 shares traded, giving the group a market value of RM18.26 billion.