Genting International Set to Enter I-Gaming Space

4 January 2008

Singapore-based gaming company Genting International (GI) is preparing to enter the online gambling market through licenses in Alderney and/or the United Kingdom.

GI, part of the Genting Group, on Jan. 3 received approval from the Singapore Exchange Securities Trading Ltd. to apply for the gaming licenses.

GI said in a prepared statement Thursday that it intended to apply for an online gaming license from the Alderney Gambling Control Commission through its subsidiary, Genting Stanley Alderney Ltd (GSAL), which was incorporated in Alderney on Nov. 22, 2007 as a fully owned subsidiary of GI. The company added that GSAL was formed mainly for purpose of conducting online gambling.

Genting acquired U.K.-listed gaming operator Stanley Leisure in October 2006 for £639 million.

Further details on the Genting's license application will be provided in due course, it said.

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