I don't mind CEO's getting hundred of million, if the company is generating 7-10% consistently and sustainable dividend, and minority shareholders benefit are well taken care of.

But don't you think it is not fair to GenM shareholders? Whom are getting not much dividend despite very good profit being made throughout.

People bought GenM share, mainly because its cash generation and good profit from Genting Highlands.
Now 1/3 of cash is gone into GenUK which has been doing poorly over the years.
It may turns around or may not, but 1.6 billion cash acquisition with no visibility of profitable, is something existing GenM would not like to see.

Just like take a smaller scale, would you venture into a business while you don't know you able to make a profit or not?

If investors would like Genting as a group, then those investors will buy Genting share directly, not GenM.

When you separated out two listing company especially listed sister company/subsidiaries company, then it has its purposes, aka offering alternative to investors to own or enjoy a specific business profitability.

GenM shareholdes won't mind if the UK business is contributing to the GenM after the acquisition or have proven record of profitability.

While if the acquisition is done from third party, then it might have lesser issue to start with.  It is the RPT issue that concern the most for existing shareholders, while the deal is about 1.6 billion cash involved.

I think they are killing two birds with one stone.

GenM share price to fall further, making it more ideal for them to take it to private.

And they would say in response to unhappiness of small fish, they decide to take GenM into private, and they think the current share buy back ( in exchange for Genting share ) would be Fair to all, bla , bla ..

And finally Holding Genting mother share ( instead of GenM )  should be a long term consideration for all.

Put a note here just in case it happens in the near future.