Malaysian gambling operator may be up for grabs - reports

B Toto additionally has real estate investments and a business development arm. The asset B Toto allegedly looks to divest a stake from has a presence in 680 outlets, operating numerous games that generated RM3.57 billion ($1.2 billion) in 2009. Its full value is estimated at approximately $1 billion. As gaming in the market sees growing popularity, private equity firms Providence Equity Partner and The Carlyle Group, as well as Citi Group, have reportedly voiced interest in the sale, though none of the firms confirmed the news.

Malaysian law mandates that gaming assets must be majority-controlled by local companies, which may prove to be a limitation for Tan if he does seek a buyer for his shares. Other PE firms have been involved in Asia’s gaming industry. In 2008, CVC Asia Pacific acquired a 49% stake in Malaysia’s Magnum Corp., and in Macau, US buyout firm Permira took a 20% stake in Galaxy Entertainment Group for nearly $840 million in 2007. 

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• Topics
• Buyouts
• Southeast Asia
• The Carlyle Group
• Providence Equity Partners
• Permira Advisers
• CVC Capital Partners