{"id":777036712,"date":"2026-01-12T13:20:53","date_gmt":"2026-01-12T16:20:53","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777036712"},"modified":"2026-04-21T15:29:34","modified_gmt":"2026-04-21T18:29:34","slug":"cimb-upgrades-genting-malaysia-to-buy-after-new-york-licence-approval","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/cimb-upgrades-genting-malaysia-to-buy-after-new-york-licence-approval","title":{"rendered":"CIMB upgrades Genting Malaysia to “Buy” after New York licence approval"},"content":{"rendered":"\n

nalysts see the approval as a pivotal step for the group\u2019s medium-term earnings.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- CIMB Securities has upgraded Genting Malaysia Bhd from \u201cHold\u201d to \u201cBuy\u201d following the award of a downstate New York commercial casino licence to its US subsidiary<\/a>, Resorts World New York City (RWNYC). Analysts see the approval as a pivotal step for the group\u2019s medium-term earnings.<\/p>\n\n\n\n

The licence, granted on December 16, enables RWNYC to transition from limited gaming operations into a full-scale commercial casino. <\/p>\n\n\n\n

CIMB lowered its financial year 2026 core earnings per share (EPS) forecast by 8 per cent, citing higher interest costs linked to debt raised by RWNYC to fund the licence fee and initial capital expenditure. It expects EPS to be down by around 1 per cent year-on-year. However, the analysts stressed that would be a transitional phase.<\/p>\n\n\n\n

For 2027, it’s raised its core EPS estimate by 25 per cent, assuming a full-year contribution from table games and an increase in operating capacity to 400 tables by January 2027. Under this scenario, Genting Malaysia\u2019s core EPS is projected to be up by 39 per cent year-on-year.<\/p>\n\n\n\n

The research note also highlighted that Genting Malaysia is likely to prioritise debt reduction over shareholder distributions, with CIMB forecasting no dividend payouts through FY27. <\/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> Moody’s downgrades Genting credit ratings<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

nalysts see the approval as a pivotal step for the group\u2019s medium-term earnings.<\/p>\n","protected":false},"author":680,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"CIMB Securities has upgraded Genting Malaysia Bhd to 'Buy' following its US subsidiary, Resorts World New York City (RWNYC), securing a downstate New York commercial casino license. This approval is seen as a pivotal step for medium-term earnings, enabling RWNYC's transition to full-scale commercial casino operations. While FY26 core EPS is projected to decline due to debt-related interest costs, FY27 core EPS is estimated to rise significantly, though debt reduction will likely supersede shareholder distributions.","focusai_entities":"CIMB Securities, Genting Malaysia Bhd, Resorts World New York City, Moody's","focusai_location":"Malaysia, New York, United States","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), compliance_legal (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"NY Market Impact?","query":"What are the projected GGR and NGR impacts for the downstate New York market following RWNYC's full commercial casino launch, and how might this affect existing operators' market share?"},{"label":"Capital Allocation Strategy?","query":"Given the projected debt reduction priority, what is Genting Malaysia's long-term capital allocation strategy for future growth initiatives versus shareholder returns post-FY27?"}],"footnotes":""},"categories":[163,16333],"tags":[19394,226],"class_list":["post-777036712","post","type-post","status-publish","format-standard","hentry","category-finance-news","category-south-east-asia-news","tag-genting-malaysia","tag-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036712","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=777036712"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036712\/revisions"}],"predecessor-version":[{"id":777036717,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777036712\/revisions\/777036717"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777036712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777036712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777036712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}