Genting Malaysia shares drop on plan to buy U.K. casinos

07/2/2010 | Bloomberg Businessweek

Shares of Genting Malaysia tumbled after the casino operator announced a plan to buy U.K. casinos from its parent company's Singapore unit. Genting Malaysia plans to purchase the U.K. casinos for $509 million from Genting Singapore. "Genting Malaysia may be better off investing in strong growth potential markets or return capital to shareholders," said Yee Mei Hui, an analyst at HwangDBS Vickers Research Sdn.

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