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Bookmakers 17 nov 2023 at 05:53

The Singaporean company is investing $1.7 billion in the reconstruction of its casino resort

Dean Hall
Author
The Singaporean company is investing $1.7 billion in the reconstruction of its casino resort

Owned by Malaysian billionaire Lim Kok Thay, the gambling company has announced plans for the upcoming reconstruction of its casino resort, earmarking $1.7 billion for the endeavor.

The planned upgrades include constructing a new 700-room hotel and trading spaces spanning over 20,000 square meters. Currently, the group manages five hotels offering approximately 1,600 rooms.

'We are confident that these investments will firmly solidify our position as the most sought-after tourist destination in Asia and contribute to the group's robust growth in the future,' - the company stated.

The group's net profit surged by 59% to $216.3 million in the third quarter. Following the strong third-quarter performance, Maybank raised its estimate for the full-year net profit by 12% to $712 million.

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