Billionaire to seek license for Malaysia’s second casino

    Billionaire Vincent Tan intends to apply for a license to operate a casino in Berjaya Hills, a resort area in Pahang State owned by Berjaya Corp, the Business Times said.
    The Malaysian tycoon told the newspaper in an interview that he plans to invest 3 billion ringgit ($933 million) in the complex, which would be the country’s second casino resort.
    Tan is the second-biggest shareholder in Berjaya with a 23.03 percent stake.
    Conglomerate Genting Bhd owns and operates Malaysia’s only casino, the Resorts World Genting, in the Genting Highlands. Genting also owns Genting Singapore, which operates one of two integrated resorts in Singapore.
    Genting is currently undergoing an MYR5 billion ($1.5 billion) renovation project at its Malaysian resort. The first phase of the 10-year plan includes the development of the MYR1 billion Twentieth Century Fox World and the proposed establishment of Genting Premium Outlets.
    Tan first applied for a casino license at Berjaya Hills, which is permitted to operate slots, ten years ago, but was turned down.
    He said the project could potentially create jobs for 10,000 locals and boost tourism revenue.