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New start for Genting

2017-08-04 09:00:01

Genting sell Aussie stake

The Genting Group are one of the biggest casino operators in the world. Genting own many luxurious casinos around the world and they also have a fantastic online casino offering. Genting are popular across the entire world, with luxury casino resorts in Asia, Australia, Europe and the US. Their online casino is popular as they are constantly offering exciting promotions and bonuses to new customers and loyal customers.

Genting have just recently broken the news that they have sold their entire 46 million shares for $235.2m in a block trade, and reports suggest that Perpetual Investment Management has made the huge purchase. Genting will be rolling in the cash as the sale has led to Genting receiving a whopping net gain of $ 67.5m on its initial investment, which was first initiated five years ago. Genting may well decide to offer their online customers more amazing promotions as they can certainly afford to do it!

Genting have their business heads screwed on

Genting certainly know a good investment deal when they see one, a huge $67.5m investment should see the casino giant make further developments in the casino industry. A Genting spokesperson confirmed that Genting sold the shares to make a profit and would use all the proceeds as general working capital and capital expenditure for the group. Genting also suggested that the funds earned from the sale might be used to fund some new investments, should the opportunity arise. Genting confirmed that the UBS, which is an investment bank, conducted the black trade.