Genting: Delay cost millions
U.S.-based entertainment and media giant 21st Century Fox has filed a counter-claim against Genting in legal action surrounding the Asian casino a US$1 billion theme park planned for the operator’s Resorts World Genting in Malaysia.
Fox bowed out of the plan last year after it was acquired by the Walt Disney Co., known as a vociferous opponent of casinos on its home turf in Orlando, Florida.
According to Inside Asian Gaming, Genting Malaysia fired the first shot in November, taking legal action against Fox and Disney for reneging on a 2013 contract. That lawsuit, filed with the U.S. District Court in Los Angeles, alleged that Fox forced years of delays as a result of “seller’s remorse,” costing Genting millions in potential ticket sales. Genting claims that Fox issued a default notice in an attempt to terminate the contract, which was “entirely consistent with Disney wanting to kill the deal.” It also said it has already invested about $750 million on the park.
In its counter-claim, Fox accused Genting of breach of contract and breach of the implied covenant of good faith and fair dealing. Its claim seeks US$46.4 million plus damages and costs.
