Share of GENTING BHD [] fell in thin trade on reports that a US state Supreme Court judge ordered a halt to the latest Aqueduct bidding process.
At 9.09am, it was down 13 sen to RM7.35 with 1,000 shares done.
The FBM KLCI slipped 2.21 points to 1,338.87. Turnover was 32.89 million shares valued at RM23.05 million.
The New York Business reported that a state Supreme Court judge ordered a halt to the latest Aqueduct bidding process so he can consider a developer’s lawsuit against the state for rescinding its lucrative racino contract.
The newspaper said a Lottery Division spokeswoman declined to comment, noting the agency hasn’t been officially notified of the lawsuit or the temporary restraining order.
The judge’s ruling could disrupt the timeline of the latest bidding process and further delay the fate of Aqueduct.
Genting Malaysia’s subsidiary, Genting New York, is the sole surviving bidder in the race. A Lottery spokeswoman said Genting’s proposal is still being vetted and a recommendation is scheduled to be made on Aug 3.
Written by Joseph Chin
The Edge Malaysia
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