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Malaysia's Genting inks agreement with US partners to build Miami gaming resort

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January 10
2:57 AM 2014

Malaysia's Genting Bhd has partnered with three US horse racing associations as it seeks to build a gaming resort in Miami, Florida. Genting is Southeast Asia's biggest gaming group.

According to a report by Reuters, Genting Malaysia Group signed an agreement with Gulfstream Park Racing Association Inc., Florida Horsemen's Benevolent & Protective Association Inc., and Florida Thoroughbred Breeders' Association Inc. Genting is the largest shareholder in Genting Malaysia with a 47.1% stake.

The report, quoting Genting Malaysia's announcement on Thursday, said that the partnership is the initial step towards enabling the company to create a leisure and entertainment resort in Miami. The leisure and entertainment resort will include a gaming facility with 2,000 slot machines, Genting Malaysia added.

Genting last month said it would spend up to $4 billion to develop an unfinished resort on the Las Vegas strip. Earnings from the United States made up 5.4% of the company's third-quarter revenue, the report said.  

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