• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 6 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Genting Berhad to see life-sciences investment monetized on merger, listing of biotechnology firm: Nomura

Newsdesk by Newsdesk
Mon 11 Jan 2021 at 04:56
Genting Berhad to see life-sciences investment monetized on merger, listing of biotechnology firm: Nomura
158
SHARES
4k
VIEWS
Print Friendly, PDF & Email

Malaysian gaming giant Genting Berhad could see its market cap increase by up to 13% following news that Celularity Inc, a biotechnology firm in which it acquired a stake in 2018, has signed a definitive merger agreement with Nasdaq-listed special purpose acquisition company GX Acquisition Corp.

The merger, if approved, would create a new listed company with a pro-forma market cap of US$1.7 billion, including an extra US$80 million of added private investment equity from existing Celularity shareholders of which Genting may take part.

Celularity is a clinical-stage biotechnology company involved in off-the-shelf, allogeneic cellular therapies derived from the postpartum human placenta, targeted towards oncology, infectious and degenerative diseases and with multiple products in trial stages. It counts Genting Chairman and CEO Lim Kok Thay as a director.

Although Genting’s exact stake in either Celularity or the merged entity is not publicly known, Nomura analysts Tushar Mohata and Alpa Aggarwal state in a research note that the merger is positive news for Genting shareholders and can potentially add to the company’s market cap.

“Hypothetically, every 10% stake in a US$1.7 billion market cap listed entity is worth US$170 million, which is ~4.3% of Genting’s current market cap of US$3.9 billion,” they write. “So if Genting ultimately owns 20% to 30% of Celularity, it would add 8.6% to 13% to the current market cap/valuation (before any holding company discount). This value can go up in the future post successful trials and launches of Celularity’s drugs.”

It would also represent the “first major monetization” in Genting’s life-sciences division, they add. While 80% of the company’s EBITDA still comes from its gaming division – which also holds majority stakes in Genting Singapore and Genting Malaysia – “Celularity’s SPAC merger might lead to investors starting to ascribe some option value to Genting’s life-sciences division.”

RelatedPosts

IGT, Scientific Games help boost AGEM Index in December

AGEM Index holds steady in May despite mixed results from gaming suppliers

Thu 5 Jun 2025 at 20:35
Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Genting Malaysia completes full acquisition of troubled US entity Empire Resorts

Wed 4 Jun 2025 at 04:53
Resorts World Las Vegas – Lighting up the north

Genting’s RWLV to “re-establish VIP play” after settling regulatory complaint as analysts warn of need to recalibrate “risk appetite”

Sun 1 Jun 2025 at 09:56
RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to US$3.2 million

Sat 31 May 2025 at 05:53
Load More
Tags: Celularity IncGenting BerhadLife sciencesLim Kok ThayMalaysiaNomuraNorth America
Share63Share11
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

Over 90% of Hong Kong residents support introduction of basketball betting as 50% net revenue tax proposed

by Pierce Chan
Fri 6 Jun 2025 at 19:10

The Hong Kong government has completed a public consultation on the legalization of basketball betting, with 94% of respondents supporting the introduction of the new betting option and proposing that 50% of net betting revenue be allocated as gambling tax....

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

by Ben Blaschke
Fri 6 Jun 2025 at 12:55

Macau’s SJM Resorts has announced the impending departure of its Chief Gaming Officer, Damian Quayle, who has resigned from the role. Inside Asian Gaming understands that Quayle, whose final day with SJM will be on 20 June, has accepted a...

Australia’s Crown sells London casino to Wynn Resorts

Wynn completes purchase of former Crown London casino, now called Wynn Mayfair

by Newsdesk
Fri 6 Jun 2025 at 06:56

US casino giant Wynn Resorts Ltd said overnight that it has completed the purchase of Crown London, formerly Aspinall’s, from Australia’s Crown Resorts. The casino will now be known as Wynn Mayfair. First announced in early January, the acquisition of...

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

by Newsdesk
Fri 6 Jun 2025 at 06:41

New Zealand’s SkyCity Entertainment Group Limited will file legal proceedings against the developers of its New Zealand International Convention Centre (NZICC) seeking NZ$330 million (US$200 million) damages for losses arising from delays to completion of the project. The company noted...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English