While many of the UK-based casinos look forward to resuming their operations after many weeks of being closed due to the ongoing coronavirus pandemic, Genting Casinos UK Limited which is the subsidiary of Genting Malaysia Berhad is dealing with emerging challenges caused by the pandemic. While the company is considering temporarily shutting down operations at its three UK venues, job losses across all of its thirty-two casinos are expected.

The subsidiary of the leading Asian casino operator, Genting Malaysia Berhad has written to all of its employees outlining the firm’s future business plans as it greatly struggles to reduce losses which are mainly caused by being forced to close its UK properties.

Details About Genting Group

The publicly-traded Genting Group is a firm based in Kuala Lumpur, Malaysia. Today, the Genting Group comprises of its Genting Berhad holding company as well as its subsidiaries including Genting Energy Limited, Genting Singapore Plc, and Genting Malaysia Berhad. Established back in the 19060s the company is led by Lim Kok Thay who joined the Genting team ten years after its establishment.

Since its beginnings, the Genting Group had accumulated over fifty-two years of expertise in operating, developing, and marketing fully integrated casino resorts and casinos across the world, from Australia and the Americas to the Philippines, the UK, Malaysia, and Singapore. Over the years, the company has also expanded its hospitality and leisure activities into other industries including e-commerce, biotechnology, information technology, power generation, and more.

As estimated in December of 2010, the Genting Group or more specifically its UK-based subsidiary owns the most casino properties across the nation including Maxims Casino in Southend, Genting Casino Queen Square in Liverpool, Genting Casino in Manchester, Genting Chinatown Casino in London, Genting Casino in Reading, Genting Casino Terminus Terrace in Southampton and many other iconic venues of this kind.

Consultation with the General Trade Union

When it comes to Genting Casinos UK Limited’s struggles related to the ongoing coronavirus pandemic, the company’s officials have consulted with the general trade union based in the United Kingdom for hospitality and leisure workers. Representing these works is the General, Municipal and Boilermakers trade union which has warned the public that proposals to permanently shutter Genting Casinos UK Limited’s properties are just the beginning.

According to the general trade union’s officials, the hospitality and leisure sector in the United Kingdom has already reached its breaking point. The operator has revealed that its Plymouth Casino will probably remain open, but job losses are expected, Employees at the property located at 2 Union Street are also on leave of absence via the nation’s Job Retention Scheme.

While the number of employees at each Genting Casinos UK Limited’s casino is not known, the Plymouth casino venue employs at least seven General, Municipal, Boilermakers members while several are also employed by the Torquay facility. Amid growing financial difficulties and other struggles, Genting Casinos UK limited has been consulting with the general trade union about the potential workforce reductions which according to the company’s officials are necessary to stay afloat.

In the meantime, at the two casino properties located in the Devon county, employees have been notified that widespread job losses are expected as the ongoing coronavirus pandemic has caused a negative financial impact on the company’s business.

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According to one report released on Friday by Inside Asian Gaming, this Kuala Lumpur-based company also shared some more information on its currently under construction, massive 3,400- hotel rooms facility named Resorts World Las Vegas. This is a luxurious facility located on an eighty-seven acre- property located in the northern area of the gambling capital.

It was also revealed by Inside Asian Gaming that the facility is expected to start welcoming its very first guests in December next year. The same report also revealed that this opening scheme will take longer than expected initially as the company wants to introduced trio hotel towers alongside a massive 30,000 square feet lake surrounded by Chinese gardens. The company is also working on its massive 100,000 square feet casino floor alongside other facilities including restaurants and dining areas.

Emerged Back in 1980

The company responsible for the luxurious, currently under construction Resorts World Las Vegas emerged on the scene back in 1989 in Kuala Lumpur, Malaysia. Nine years after its establishment, the company underwent a massive restructure alongside Resorts World Bhd. This move resulted in Resorts World Bhd being acquired by Genting Group. In other words, Genting Group acquired all of its hotel and resort-related operations as well as all of its gaming floors and other assets.

Today, Resorts World Bhd is one of the Genting Bhd subsidiary companies under the hospitality and leisure division which manages operations at Genting Highlands except at First World Plaza and First World Hotel which are managed by the company’s First World Hotel and Resort Bhd subsidiary. Some of the company’s main activities today include tourist entertainment and accommodation resorts at Genting Highlands which comprise entertainment, hotel, gaming, and amusement.

The company has six hotels including Golf and Country Resort, Genting Hotel, Theme Park Hotel, Highlands Hotel, Awana Genting Highlands and First World Hotel. When it comes to its latest venture, the Resorts World Las Vegas, this is another luxurious property which is located on the former Stardust Resort and Casino hotel which closed its doors in 2007. The facility was demolished that same year while the construction property was sold to Genting in March of 2013.

Highly Experienced Executive Team

The company behind the Resorts World Las Vegas revealed that its five new hires for its executive board have more than eighty years of combined experience. It was also revealed that they have helped with running some of the biggest casino resorts in Nevada before they joined the facility’s current President Scoot Sibella. The executive team alongside Scott Sibella will work on making this Las Vegas-based facility a major success.

Following the news, Inside Asian Gaming revealed that the new executives include Bill McArthur hires as a Chief Information Officer and Chris Nordling hired as the company’s Chief Financial Officer. Bill McArthur used to work for some of the biggest companies in the industry while Chris Nordling is another veteran in the industry who has a great experience as a Chief Financial Officer working for the MGM Resorts International giant.

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The lawsuit was the result of the Twenty-First Century Fox and Walt Disney Co abandoning their contract regarding the construction of the very first Fox-operated theme park located on Genting-owned property. According to the Asian operator, this move was seller’s remorse which induced Twenty-First Century Fox with the help of Walt Disney Company to breach its five-years-old contract. By the contract, the Fox Entertainment Group would allow Genting Malaysia Berhad its intellectual property for the purpose of building a Fox Worlds.

This would be the very first facility of this kind built in the Genting Malaysia Berhad’s Resorts World Genting complex located only one hour for the country’s capital Kuala Lumpur. After reportedly breaching their contract, Genting Malaysia Berhad filed the lawsuit in the United States Los Angeles District Court. At the time, the Walt Disney Company was completing for its massive $71.3 billion-worth purchase of several Fox Entertainment assets.

Twenty-First Century Fox Wanted to Renegotiate the Contract

It was reported that one of the main reasons for the construction delay was because Twenty-First Century Fox wanted more time to renegotiate the contract with the main purpose of giving it a certain share of total gate sales. Another reason behind the delay was the Walt Disney Company’s officials believing that a gaming company does not fit its mainly family-friendly business strategy.

The Asian operator shortly after release its official statement in which the company’s official stated that Twenty-First Century Fox issued them a default notice in that they hoped to terminate their contract. However, since the Fox Entertainment Group had no right to ask for the contract termination due to previous agreements, both the Walt Disney Company and Fox Entertainment Group are liable for what eventually exceeded $1 billion in damages done to Genting Malaysia Berhad.

Shortly after the lawsuit was filed, both Fox and Disney have issued their official responses stating that the lawsuit is without merit. Moreover, the Fox Entertainment Group’s officials also stated that the Asian operator has failed to meet their deadlines. The officials also added that Genting Malaysia Berhad made up that the Walk Disney Company was the one to force the termination of the business deal between the two companies.

The Two Companies Reaching the Resolution 

As it was reported several days ago, Genting Malaysia Berhad stated that they have reached a resolution after several months of legal battles. In their official press release, the company detailed that it will proceed with their plans to bring a huge park theme to its popular Resorts World Genting casino resort. However, the theme park will be named the Twenty-First Century Fox World.

The company’s officials also added that Genting is currently working on its construction and development plans and it seems that the theme park will only utilize Fox-related intellectual properties. This is actually one part of the settlement in which both parties have agreed that Genting Malaysia Berhad can use Fox-owned intellectual properties.

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