Genting’s New York Plans Spark Positive Predictions
Summary
Analysts are upbeat about Genting Malaysia’s bid to convert Resorts World New York City from a slots-only racino into a full casino. Nomura projects gross gaming revenue could reach about $2.9bn by 2031, producing roughly $400m in operating profit, while Maybank IB has an even earlier peak-profit scenario around 2030. Resorts World is seen as advantaged because it can convert quickly to a permanent site with 4,000 electronic gaming units and 250 table games — potentially opening by June 2026 if it secures a licence. Competing proposals from Bally’s and Hard Rock are expected to ramp up much later, in the 2030s. Meanwhile, New York regulators have moved to detailed licence checks and Genting’s parent company has been rearranging its finances to support international expansion.
Key Points
- Nomura forecasts Resorts World New York City could reach c. $2.9bn gross gaming revenue by 2031, yielding about $400m in operating earnings.
- Resorts World can convert rapidly to a full casino — plans envisage 4,000 electronic gaming units and 250 table games, with a possible June 2026 opening after licence approval.
- Rivals Bally’s and Hard Rock are projected to start operations later, in the 2030s, giving Resorts World an early-mover advantage downstate.
- Maybank IB predicts near-term profit peaks (around 2030) of roughly MYR 1.9bn (about $460m) tied to a fast launch and established customer base.
- The New York State Gaming Commission has begun rigorous suitability and financial reviews; licences are expected to be granted once conditions and fees are satisfied, likely before year-end.
- Genting Berhad’s recent corporate moves (consolidating ownership and raising debt) signal a broader strategy to support US growth, although these are distinct from the NY licence itself.
Why should I read this?
Short and sharp: if you follow gaming markets, New York development or corporate strategy, this is worth your minute. Genting looks set to grab a genuine head start in a hugely lucrative market — and analysts have put numbers on what that could mean. If Resorts World wins and moves fast, it changes the competitive and revenue picture for downstate New York for years.
Source
Source: https://www.gamblingnews.com/news/gentings-new-york-plans-spark-positive-predictions/
