{"id":777035485,"date":"2025-12-03T09:04:16","date_gmt":"2025-12-03T12:04:16","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777035485"},"modified":"2026-04-21T16:23:06","modified_gmt":"2026-04-21T19:23:06","slug":"analysts-take-mixed-views-of-genting-malaysias-prospects-amid-new-york-casino-expansion","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/analysts-take-mixed-views-of-genting-malaysias-prospects-amid-new-york-casino-expansion","title":{"rendered":"Analysts take mixed views of Genting Malaysia’s prospects amid New York casino expansion"},"content":{"rendered":"\n

Maybank expects earnings to soar, but CreditSights warns of credit pressures.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- With Genting Malaysia now all but guaranteed to be able to start full table game operations in New York next year under a Class III downstate casino licence<\/a>, Maybank has forecast that net profit could reach MYR1.93bn (US$406bn) by 2030. It notes that Genting expects gross gaming revenue at Resorts World New York City (RWNYC) to more than double once Phase 1 is completed in late 2026 or early 2027.<\/p>\n\n\n\n

However, research firm CreditSights has issued a more cautious assessment, citing credit pressures. The firm notes that the New York project will be \u201clargely debt-funded and front-loaded,\u201d potentially pushing Genting Malaysia\u2019s net leverage to 6x\u20136.2x if the company fails to advance a sale of its Miami land assets.<\/p>\n\n\n\n

CreditSights also warns of a heightened risk of rating downgrades for both Genting Berhad and Genting Malaysia. Although Genting Berhad\u2019s recent takeover offer increased its stake in Genting Malaysia from 50 per cent to 73.13 per cent, it fell short of the 75 per cent threshold required to delist the operator<\/a>. Under Malaysian takeover rules, it cannot purchase more voting shares for the next 12 months.<\/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> Genting Bhd pushes past 60% ownership in Genting Malaysia<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Maybank expects earnings to soar, but CreditSights warns of credit pressures.<\/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":"Maybank forecasts Genting Malaysia's net profit to reach MYR1.93bn by 2030, driven by anticipated GGR doubling from its New York Class III casino operations. However, CreditSights warns of significant credit pressures, projecting net leverage could hit 6x\u20136.2x due to the debt-funded New York project, potentially leading to rating downgrades for both Genting entities. The article also notes Genting Berhad's recent takeover offer increased its stake in Genting Malaysia to 73.13%, falling short of the 75% delisting threshold.","focusai_entities":"Genting Malaysia, Maybank, CreditSights, Genting Berhad, Resorts World New York City (RWNYC)","focusai_location":"Malaysia, New York, Miami","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Credit Risk Mitigation?","query":"What specific strategies is Genting Malaysia implementing to mitigate the projected 6x\u20136.2x net leverage and avert potential credit rating downgrades, particularly if the Miami land asset sale does not materialize?"},{"label":"NY GGR Projections?","query":"How do Maybank's GGR projections for Resorts World New York City, post-Phase 1 completion, compare with independent market analyses for the nascent downstate New York Class III casino market?"}],"footnotes":""},"categories":[157,158,16333],"tags":[24657,19394],"class_list":["post-777035485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-genting-berhad","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035485","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=777035485"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035485\/revisions"}],"predecessor-version":[{"id":777035509,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777035485\/revisions\/777035509"}],"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=777035485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777035485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777035485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}