Diversification and Expansion
In December 2006, Genting Group won the bid in obtaining one of two Singapore casino licenses to build an integrated resort, named Resorts World Sentosa, under Genting Singapore. The project requirements includes hotel, gaming, leisure facilities, convention space and retail to create an iconic major tourist attraction for the booming Asian tourism market.
In 2007, Genting Plantations ventured into biotechnology to develop synthetic genomic processes and naturally occurring processes for alternative energy resources through an equally owned joined venture with "Synthetic Genomics".
In July 2007, Genting Group disposed of its paper and packaging business.
In August 2009, Genting Hong Kong opened Resorts World Manila in partnership with Alliance Global Group. It is one of four groups that won approval in 2008 to build hotels and casinos as part of Philippines' US$20 billion Pagcor City development on Manila Bay.
In June 2009, Genting Group supported the capital raising exercise of MGM Mirage.
In August 2010, Genting Property began construction on an upscale retail destination, Johor Premium Outlets in partnership with Jersey-based Simon Property Group, as part of a wider 7,000-acre (2,800 ha) integrated township project in the southern state of Johor.
In September 2010, Genting New York won a bid to build a racino at Aqueduct Race Track in New York City, the first step of a planned expansion in the United States. Among the attributes of the plan was providing a diversion for passengers on long stays at John F. Kennedy International Airport. Resorts World New York is scheduled to open by end-2011.
In May 2011, Genting Malaysia purchased 14 acres (5.7 ha) of Biscayne Bay front land surrounding the headquarters of The Miami Herald for US$236 million; The McClatchy Company announced that the Herald and El Nuevo Herald would be moving to another location by 2013. The land is to be used for a mixed use development, Resorts World Miami, that would include hotels, restaurants, residences, retail shops and a convention centre. Genting Group sees the Miami land acquisition as an integral step in its pursuit of expanding internationally in the leisure, hospitality and entertainment industry.
In June 2011, Genting UK was awarded a casino licence for a 55,000 sq-meter mixed-use facility in Birmingham. The development is in partnership with the NEC Group and is currently under review for planning permission.
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