Genting Malaysia Expand into Online Casino Business

Genting UK PLC, a wholly-owned subsidiary of Genting Malaysia Bhd acquired Authentic Gaming to grow Genting’s online gaming business. In the news on 1 November 2019 stated, it spent 15 million Euros (about RM70 million) for this acquisition. Authentic Gaming is a subsidiary of LeoVegas Mobile Gaming Group.

Leovegas-Authentic Gaming-Genting

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Who is LeoVegas?

LeoVegas is a Swedish mobile gaming company founded in 2011. They are provider for online casino and sports betting service to a number of international market. LeoVegas issued a statement on 30 October that the selling price of 15 million Euros is on debt free basis. Meaning to say, the seller has a return rate of more than 100% in three plus years.

Background of Authentic Gaming

Authentic Gaming is a supplier of Premium Live Casino Systems for land-based and online casinos. It offers solutions such as Authentic Roulette, Casino Floor Studio, Intra Resort and Auto Roulette Live. All live games deliver to players on all gadgets in stunning wide-angle HD video. Also from their luxurious resorts and casinos around the world. Hence, online players able to join physical patrons at the table for live games like Authentic Roulette.

With the demand of faster live games and lower betting limits, Auto Roulette live 30 seconds is definitely the best choice. 30 seconds Roulette is a rapid and fully automated live games. This game is seeing as unbeatable growth in the online gambling industry.

Jeremy Taylor, Managing Director of Genting Online said:

“Our global presence in land-based casino gives us a platform to grow online at a fast pace.”

“Our vision is to offer our customers an amazing gaming experience from all of our casinos around the world, 24 hours a day through any device. With Authentic Gaming’s advanced technology and innovative product, we are convinced that together we have a good position to realize that vision.”

Gustaf Hagman, CEO of LeoVegas Group said:

“Genting is the ideal buyer to push Authentic Gaming to another level.”

“This is a milestone for LeoVegas. The time is now right to sell the enterprise to the industry giant, Genting. Which is the perfect buyer to take Authentic Gaming to the next level.”

“The deal shows our innovative strength in the group and our ability to develop and build sustainable companies. We have thereby created shareholder value with more than a 100% return on our investment in Authentic Gaming,”

Article reference: https://www.theedgemarkets.com/article/genting-buys-swedenlisted-leovegas-subsidiary

Genting Online Business

Genting Online is an operating subsidiary of Genting UK. The agreement will see Genting leverages on Authentic Gaming’s innovative in-club streaming technologies. Additionally expertise across its land casino and online casino both in the UK and globally.

From this acquisition, online gambling is obviously the future trend for the gamblers. Even big giant like Genting Malaysia decided to enter into this agreement to strengthen its online gaming portfolio. More importantly, the online gambling business.

Although, online gambling is illegal in Malaysia. Yet there are thousands of online casinos on internet available for Malaysia online gambling. Mostly offering attractive bonuses and comprehensive games. Nevertheless, players shall be careful when choosing online casino for betting.

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