Reported in July 2 that shares of Genting Singapore rose as much as 1.7 percent in heavy trading on Friday, after it said it will sell its UK casino operations to parent Genting Malaysia
It looks like analysts review that Genting Singapore should be posting a positive bottom-line after the sale, after selling its UK operations since UK operations will still be loss-making this year," OCBC said in a report.
It is reported that Genting Singapore will receive net proceeds of around S$688.8 million and will book an excess over book value of around S$103.6 million
Genting Malaysia said on Thursday the acquisition complements the firm's long-term international expansion strategy, with plans to enter markets in Europe and the United States.
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