Genting Group is undergoing a leadership shift, with Lim Kok Thay stepping down as CEO of Genting Berhad. The company made the announcement late Thursday, stating that the long-time leader will remain as Executive Chairman while Tan Kong Han, the current President and COO, takes over as the new CEO.
Leadership Change at Genting Berhad
Lim Kok Thay, who has been synonymous with the company’s expansion over the decades, will step away from his CEO duties but continue to hold an influential role within the company. Genting Berhad is the powerhouse behind Resorts World Las Vegas, as well as other major properties in Malaysia and Singapore.
Tan Kong Han, who has served as President, COO, and Executive Director for years, will now lead the company’s operations. His appointment signals a strategic move to ensure continuity while allowing Lim to focus on broader responsibilities.
What This Means for Genting’s Global Operations
Genting Berhad isn’t just another conglomerate; it holds stakes in some of the biggest integrated resorts in Asia and North America. The company’s portfolio includes:
- Resorts World Las Vegas, a $4.3 billion development on the Las Vegas Strip
- Resorts World Genting in Malaysia, a key revenue driver
- Resorts World Sentosa in Singapore, a direct competitor to Marina Bay Sands
Tan Kong Han’s leadership comes at a time when the global gaming industry is facing both opportunities and challenges. The recovery from pandemic disruptions, evolving gaming regulations, and increasing competition in the integrated resort space will all shape Genting’s path forward.
Lim Kok Thay’s Influence Remains Strong
Despite stepping down as CEO, Lim Kok Thay isn’t fading into the background. He continues as Executive Chairman, a position that allows him to remain involved in strategic decision-making. Over the years, Lim has transformed Genting from a Malaysian casino operator into a global hospitality and gaming giant.
His influence has been particularly strong in the expansion of Resorts World-branded properties, from New York to the Bahamas and, of course, the highly anticipated Las Vegas resort. By staying on as Executive Chairman, he ensures that his vision will still guide the company’s long-term strategy.
What’s Next for Genting Under Tan Kong Han?
Tan Kong Han isn’t new to Genting. He has been with the company for years, playing a crucial role in operational and financial decisions. But taking over as CEO comes with new pressures:
- Competing in the Las Vegas market: Resorts World Las Vegas has had a challenging start, with competition from established giants like MGM and Caesars.
- Expanding in Asia: Genting Singapore is looking to maintain its market share against strong competition from Marina Bay Sands.
- Navigating industry shifts: The gaming and hospitality industry is evolving, with digital trends and new markets reshaping the landscape.
While Genting has strong assets, the leadership transition will be closely watched by investors and industry analysts. The shift comes as the company looks to reinforce its global presence while staying competitive in an industry that’s constantly evolving.
