The long-standing CEO of Genting Berhad, the Malaysia-based conglomerate, which runs the Resorts World Hotel casino, resigns.
KT Lim, who has served as Genting Berhad’s CEO and chairman since 2003, resigns from the roles from 1 March, the company announced on Thursday. The 73-year-old Lim will remain with the company as executive chairman of the board.
LIM will be replaced by KH Tan, who has served as Genting Berhad’s president and chief manager for 18 years. By 2020, Tan accompanied the title as CEO to his resume.
According to a news message, TAN will continue to serve as the company’s president and the CEO, in addition to its new responsibility as CEO, but will no longer be COO.
“On behalf of the Board, I want to congratulate (TAN) to his promotion and the new appointment,” Lim said in the news message, leaving that Tan “now joins the CEO as part of a multi -year succession plan.”
Glue is the son of the late GT glue, founder of the Genting Group, which today consists of five distinct business units that include Genting Berhad. Lim’s son, KH Lim, was appointed Deputy CEO of Genting Berhad 2019. The younger glue will take the role of CEO of Genting Plantations on March 1, a position that Tan holds up to his latest appointment.
According to documents submitted to Malaysia Stock Exchange, TAN has no ties to current board members or existing larger shareholders, which include the company’s founding family.
Genting owns the only casino license in Malaysia, which was granted the company in 1969. Today, Genting runs casinos and resorts in international locations such as Singapore, UK and Bahamas, and domestic in cities such as Las Vegas, New York and Miami.
Resorts World Las Vegas, a property of $ 4.3 billion on the North Strip, was opened in June 2021. At the opening celebration, Lim said that he already planned to expand the property because the resorts World only took up about half of 88 available acres.
There has been no extension of Resorts World Las Vegas during the almost four years ago, although the property’s recently appointed CEO suggested that the unused land could be part of the new leadership’s growth strategy.
In August, Nevada Gaming Control Board submitted a complaint of 12 bills against Resorts World and Gleing Berhad, and claimed a series of failures against the money. The name of a new CEO and a recently created board is among the measures taken by the Las Vegas operation as it is waiting for the assessment of the charges from the Nevada Gaming Commission.
Contact David Danzis at ddanzis@ theplayerlounge.com or 702-383-0378. Follow @AC2vegas-danzis.bsky.social or @AC2vegas_danzis on X.
