June 17, 2014 / 4:00 AM / in 4 years

Malaysian tycoon Tan may invest in new casino complex -paper

KUALA LUMPUR, June 17 (Reuters) - Malaysian billionaire Vincent Tan may invest 3 billion ringgit ($933 million) to build a casino complex in the state of Pahang if authorities approve a plan for what would be the country’s second casino, the Business Times reported.

Citing an interview with the tycoon, the paper said Tan aims to apply for a license to operate a casino in Berjaya Hills, a resort area owned by Berjaya Corp, in which he is the largest shareholder with a 23.03 percent stake. (www.nst.com.my/node/3396) (link.reuters.com/peq22w)

Malaysia’s only existing casino is owned by gaming-to-plantations conglomerate Genting Bhd, which saw 1.4 billion ringgit in revenue come from the casino in the first quarter this year.

Berjaya didn’t immediately respond to questions submitted by email at an official’s request.

$1 = 3.2170 Malaysian Ringgit Reporting by Al-Zaquan Amer Hamzah; Editing by Kenneth Maxwell

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