What happened?

If you’ve been following the Singapore market closely, you’d probably have noticed the sharp movements in Genting Singapore’s share price in recent days. 

This came after Bloomberg reported on 15 July (Friday) that Genting Singapore saw takeover interest from US entertainment company MGM Resorts.

This led to a 9.3% spike in Genting Singapore’s share price before trading was halted. 

Genting Singapore subsequently shared that its controlling shareholder, Genting Berhad, received an unsolicited approach for its shares in the company. However, the approach has not been pursued.

Genting Singapore is also not aware of any ongoing discussions concerning any potential transaction. 

Following the announcement, Genting Singapore’s share price fell back slightly but remains above where it was prior to when the Bloomberg report came out. 

For those who are not familiar with Genting Singapore, the company owns Resorts World Sentosa. Yes, the integrated resort which houses one of the