In a Bursa Malaysia filing, Genting said the offer, which covers 2.87 billion GENM shares or 50.64% equity interest, amounts to RM6.74 billion.

It holds 49.36% of GENM as of Oct 10.

The offer is conditional on Genting receiving valid acceptances that would raise its stake to more than 50% of the total shares issued.

Genting said the offer price of RM2.35 per share represents a premium of between 9.8% and 22.9% over GENM’s historical traded price over the past 12 months up to and including Oct 10, 2025, the last trading day before the offer notice.

“The offer provides shareholders an opportunity to realise their investments in GENM at a premium,” the group said.

The takeover allows Genting to gain statutory control of GENM and consolidate the subsidiary’s financial statements, independent of accounting definitions of control.

Funding for the offer will come from a mix of internal funds and up to RM6.3 billion in debt financing.

Genting said its gearing ratio is expected to rise from 0.43 times to 0.50 times on full acceptance.

If the acquisition leads to a breach of the 25% minimum public shareholding spread, it may consider delisting GENM from Bursa, Genting said.

GENM, which operates Resorts World Genting and several international properties, including in the US and the UK, recorded a net profit of RM251.2 million for the financial year ended Dec 31, 2024.

The group is among four contenders for up to three downstate New York commercial casino licences, with a decision expected by end-2025.

“The offer positions Genting to strengthen its control and financial flexibility to support GENM’s long-term growth, including potential expansion in the US,” the company said.

AmInvestment Bank Bhd has been appointed as the principal adviser to the offer, which is expected to be completed by the fourth quarter of 2025.