Content Writer: Janice Chew • Thursday, 25/11/2025 - 23:23:37 - PM
Malaysia’s gaming and hospitality group Genting Berhad has announced that its direct shareholding in its listed subsidiary Genting Malaysia has climbed to 60.609% as of 19 November 2025, following the acceptance of 171 million shares at RM2.35 per share. This marks a significant increase from its previous holding of roughly 49.44% before mid-October.
The share increase comes as part of Genting Berhad’s conditional voluntary (now mandatory) takeover offer to acquire all remaining ordinary shares in Genting Malaysia. The takeover offer, valued at approximately RM6.74 billion (US$1.6 billion), aims to delist Genting Malaysia once statutory control is achieved (either at 75% for a voluntary delisting or at 94.94% via compulsory acquisition). The parent company’s interest in consolidating control is linked to its ambition to strengthen its footprint in the U.S., particularly through the subsidiary’s assets such as Resorts World New York City, contingent on a full commercial casino licence being awarded.
However, the takeover plan has drawn caution from analysts and credit-rating agencies. For example, Moody's placed Genting Berhad’s credit ratings under review for a potential downgrade, citing the takeover’s substantial debt funding and the risk of weakened credit metrics if leverage spikes. Additionally, an independent advisor to Genting Malaysia's shareholders recommended that they reject the offer, arguing the RM2.35 per share price was “not fair and not reasonable” compared with valuation estimates of RM3.48–RM3.77 per share.
Despite these headwinds, Genting Berhad now holds what is an effective majority stake, placing it in a firmer position to drive strategic changes, streamline operations, and allocate capital across its global gaming and resort businesses — now with more direct alignment via Genting Malaysia. For shareholders, this means the remaining minority stake-holders will likely face increasing pressure to accept the bid as Genting bridges toward full control.
Overall, the move marks a critical inflection point for the Genting Group’s structure: Genting Berhad’s direct stake in Genting Malaysia has breached 60%, shifting from a major shareholder to outright controller, with significant implications for corporate strategy, debt structure, and shareholder value.