KUALA LUMPUR: Genting International Plc (GIL) has become the first unit of Genting group to venture into online gaming after having received approval from the Singapore Exchange Securities Trading Ltd (SGX-ST).
The latest development paves the way for GIL to apply for an online gaming licence in Alderney (British Channel Islands) and/or the United Kingdom (UK).
In an announcement yesterday, GIL said as part of its listing condition in SGX-ST, it was required to seek approval from the exchange before effecting any acquisition and/or venture into online gaming operations.
“The company recently applied for and received approval from the SGX-ST on Jan 3, 2008 for the conduct of gaming operations (including online gaming) in Alderney (British Channel Islands) and/or the UK,” it said in a statement.
GIL said it intended to apply for an online gaming licence from the Alderney Gambling Control Commission through its subsidiary Genting Stanley Alderney Ltd (GSAL).
“Further details will be provided in due course,” it said, adding that GSAL was incorporated in Alderney last Nov 22 as its fully owned subsidiary with a registered share capital of £10,000 (RM64,950).
“The intended objective of GSAL is mainly for the conduct of online gaming,” it said.
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