Analysts, though, point to strong profit growth from Genting's palm oil plantations and oil-and-gas-production business.
Is Leong--the only Lim grandchild working at Genting--being groomed to take over one day?
The new tax will deter competition, so this may be a blessing in disguise for Genting.
Hoguet also likes Genting, a gaming company, with operations in Malaysia, Asia-Pacific and Europe.
He signed on with Genting in 2004, joining his uncle, Chief Executive Lim Kok Thay.
Genting has the only casino license in Malaysia, and it must be renewed each quarter.
Genting bought land in 2011 in Miami and lobbied hard for a casino license.
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Genting, Southeast Asia's largest casino operator, will rebrand the languishing structure Resorts World Las Vegas.
The Genting Group announced Monday that it is buying the site where Boyd Gaming Corp.
"His background gives him different perspectives on the U.K., " says Justin Tan, managing director of Genting International.
Six months later, Genting was awarded the casino contract, and 13 months after that, the casino opened.
But Genting believes it can turn that same stream of tourists into big moneymaker back in Las Vegas.
Genting says it will build a multi-billion dollar casino, its first in Las Vegas, on the 87-acre site.
And the U.K. isn't putting much of a damper on Genting's overall business.
Alliance Global co-owns the casino resort with Genting Hong Kong, which is controlled by the Malaysian holding company Genting.
In 2006, the Singaporean government opened to the gaming industry by awarding two casino licenses, which LVS and Genting Singapore received.
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Marina Bay Sands attracted more than 11 million visitors whereas its rival Genting Singapore attracted more than 15 million visitors in 2010.
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Genting is of course a major participant in the world leisure industry.
Genting's shares sell for 19 times its Thomson IBES 2008 profit forecast.
As a result, Las Vegas Sands and its competitor Genting Singapore have seen a decline in revenues from the region in recent quarters.
Genting said it will build on the skeleton of the Echelon to create one of the largest complexes on the Las Vegas Strip.
The Genting announcement is the latest sign that the stretch of Las Vegas Boulevard home to Circus Circus and the Stratosphere might be turning around.
This was back in late 2004, just before Genting, the Malaysian conglomerate that runs casino, energy and plantation businesses, picked up a 7% stake in Stanley.
Opened by his grandfather in 1971 and named for the spot where he decided to build it, the resort is still the centerpiece of the Genting empire.
"I think we've turned conventional wisdom on its head today, " Sandoval said, adding that he hopes the Genting project will encourage more foreign investment in the Strip.
The Genting Group said it plans to break ground on the new project in 2014, and open in 2016, creating tens of thousands of jobs in the process.
At Genting--which boasts the world's largest hotel, the 6, 118-room First World that's part of its Genting Highlands casino resort outside Kuala Lumpur--he's responsible for finding new areas for growth.
For a quicker getaway from the capital, head to the Genting Highlands in the state of Pahang, which boasts a casino and resort that's a favorite with Kuala Lumpur gamblers.
Industry talk has it that Japanese officials have been sizing up Genting's ResortsWorld at Sentosa, and there's speculation that Genting may get the opportunity to replicate its model in Japan.
Once Singapore's two megacasinos are ready for business and other countries around Asia open the door to the industry, the group will need to protect its Genting Highlands crown jewel.
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