The popular Malaysian operator GentingBet has announced that it will be closing all of its UK-focused businesses in August 2021.
A statement from the firm read: “Regrettably, Genting Malta Limited (T/A GentingBet) has taken the decision to close all licensed operations with effect from 23 August 2021. Genting Malta Limited (T/A GentingBet) will cease trading its sportsbook on 16 August and its online casino on 23 August 2021.”
It is expected that their customers will be contacted soon about account closures and also the procedure for settling outstanding sports bets.
The news has come as a surprise amid what has been a tough year for the brand. Their land-based casino division has taken a monumental hit during the last year, with a number of properties closed permanently in the UK since the start of 2020.
In addition, more than 1,600 staff were cut as Genting looked to significantly reduce their overheads, and while some of their players pivoted to their online channels clearly it was not enough to convince decision-makers that the brand has a future in the UK market.
Who Were GentingBet?
The Genting Group, operating mainly out of Kuala Lumpur, is a major player in the casino and sports betting sector, with a number of casino properties and resorts to their name across the globe.
Founded in 1965, Genting has enjoyed tremendous growth in Asia and has attempted to replicate that success in the UK – albeit with limited success.
The jewel in their crown is the mammoth Resorts World Genting in Malaysia, a sprawling destination that sits astride Mount Ulu Kali a cool 1,800m above sea level.
Today, the Genting Group employs around 62,000 members of staff across their various divisions, and owns some 11,000 acres of land on which their properties are stationed.
Attempting to capitalise on the success of their operation, Genting revealed their online platform – GentingBet – in 2014, but there never seemed to be a great deal of hunger to grow the platform….a sponsorship deal with Premier League outfit Aston Villa aside.
In a unique take, Genting have focused on their land-based action, buying up dozens of properties in the UK from Glasgow to Brighton. Their online casino and sportsbook seemed to be an afterthought, and you wonder if the closure reflects the fact.
Stateside Expansion
With a deep imprint in the Asian and UK sector, Genting have set their sights on opening up new casinos in the United States.
They have ploughed £3 million into a new venture in Las Vegas, Resorts World Las Vegas, which takes the title of the most expensive casino resort ever developed in Sin City.
Opening its doors on Monday, Resorts World Las Vegas represents a huge gamble by Genting – in all senses of the word – at a time when visitor numbers to the home of casino gaming have slumped due to Covid and are still well below 2019 numbers.
Originally, Resorts World Las Vegas was to have an Asian theme, with a replica of the Great Wall of China and a live panda exhibit. Thankfully, those plans were scrapped in favour of a more traditional Western approach, with the 88 acres of gaming space featuring hundreds of tables and slots and the one of the largest LCD screens in the world on the outside of the building.
It adds to Genting’s portfolio in America that already includes Resorts World properties in New York City, Catskills (also in New York) and Bimini in the Bahamas, while plans for Resorts World Miami have been approved by authorities in Florida.