Lim Kok Thay

Billionaire entrepreneur Lim Kok Thay has announced an ambitious Rs. 45,870 crore (USD 5.5 billion) investment plan to expand his casino operations in New York after securing a new gaming license. The development marks one of the largest capital commitments in the state’s entertainment sector, signaling the company’s intent to cement its position in a rapidly evolving U.S. gaming market. The expansion aims to modernize facilities, enhance hospitality offerings, and strengthen the region’s economic footprint through job creation and increased tourism.

In a strategic and high-stakes maneuver, Malaysian billionaire Lim Kok Thay aims to consolidate control by privatizing Genting Malaysia in a RM6.74 billion (US$1.6 billion) conditional takeover. Genting Berhad is offering RM2.35 per share—nearly a 9.8 percent premium over its prior traded price—to acquire the remaining 50.64 percent stake it does not already own. The move, financed via debt and internal funds, signals a push to delist Genting Malaysia, streamline capital allocation, and support ambitious global expansion, including a US$5.5 billion casino proposal in New York.