{"id":777033970,"date":"2025-10-31T11:19:45","date_gmt":"2025-10-31T14:19:45","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777033970"},"modified":"2026-04-21T17:33:57","modified_gmt":"2026-04-21T20:33:57","slug":"genting-malaysia-virtually-assured-of-new-york-casino-licence-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-virtually-assured-of-new-york-casino-licence-analysts-say","title":{"rendered":"Genting Malaysia \u201cvirtually assured\u201d of New York casino licence, analysts say"},"content":{"rendered":"\n

Maybank is bullish on Genting Malaysia\u2019s prospects.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Genting Malaysia appears to be on the verge of a landmark expansion in the United States. Maybank Investment Bank says the group is \u201cvirtually assured<\/strong>\u201d of securing one of New York\u2019s downstate casino licences.<\/p>\n\n\n\n

New York State is expected to award up to three full-scale commercial casino licences by the end of 2025. With only three qualified bidders remaining, market observers believe the state will grant all licences to maximise upfront revenue, potentially collecting over US$1.5bn <\/strong>in fees.<\/p>\n\n\n\n

Genting\u2019s Resorts World New York City (RWNYC) in Queens has been operating since 2011 as a video lottery terminal facility. If granted a licennce, it would make the transition to a full casino<\/a>, adding table games and a major expansion of its resort complex.<\/p>\n\n\n\n

According to Maybank, RWNYC\u2019s proposal stands out for its speed, scale, and fiscal contribution<\/strong>. The operator plans to launch a permanent casino just six months after licensing, with 4,000 slot machines and 250 tables<\/strong>, eventually expanding to 6,000 machines and 800 tables<\/strong> by 2029. The US$600m fee pledged by Genting is the highest among bidders<\/strong>, complemented by the steepest proposed tax rates and the largest gaming floor.<\/p>\n\n\n\n

Industry analysts estimate that New York\u2019s downstate market could generate US$6.5bn in gross gaming revenue (GGR)<\/strong> by 2031, positioning it as the second-largest casino market in the United States<\/strong> after Las Vegas. RWNYC is projected to capture about 42 per cent of GGR<\/strong>, or roughly US$2.7bn<\/strong>.<\/p>\n\n\n\n

Maybank forecasts that this could lift Genting Malaysia\u2019s net profit to MYR1.93bn (US$455m) by 2030, substantially above earlier estimates. Analysts added that RWNYC\u2019s expansion would add MYR0.47 per share (US$0.11)<\/strong> to the company\u2019s equity value, with further upside potential depending on tax rates and asset optimisation. \u201cThe RWNYC expansion represents a step-change for Genting Malaysia\u2019s earnings,\u201d the report concluded. \u201cWe see the group on the cusp of becoming a major player in the U.S. gaming landscape.\u201d<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Belle Corp gaming revenue falls<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

Maybank is bullish on Genting Malaysia\u2019s prospects.<\/p>\n","protected":false},"author":680,"featured_media":18062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia is highly anticipated to secure one of New York's downstate casino licenses, according to Maybank Investment Bank. This expansion would transform its Resorts World New York City into a full-scale commercial casino, significantly boosting its operational scale and projected GGR capture in a market estimated to reach US$6.5bn by 2031. The move is expected to substantially elevate Genting Malaysia's net profit and equity value, positioning it as a major U.S. gaming entity.","focusai_entities":"Genting Malaysia, Maybank Investment Bank, Resorts World New York City, New York State","focusai_location":"United States, New York, Queens, Malaysia","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Hurdles?","query":"What specific regulatory compliance challenges and governance framework adjustments will Genting Malaysia face transitioning Resorts World New York City from a VLT facility to a full commercial casino, particularly concerning new gaming verticals and responsible gambling protocols?"},{"label":"Market Share Impact?","query":"How might the projected US$2.7bn GGR capture by Resorts World New York City impact the competitive landscape and market share distribution among existing and potential operators in the broader New York downstate gaming market by 2031?"}],"footnotes":""},"categories":[28,16333],"tags":[29,24657,19394],"class_list":["post-777033970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-east-asia-news","tag-casino","tag-genting-berhad","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/680"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777033970"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033970\/revisions"}],"predecessor-version":[{"id":777034021,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777033970\/revisions\/777034021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777033970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777033970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777033970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}