Analysts outline massive profit potential for Genting’s full New York casino
Summary
Resorts World New York City (RWNYC), currently a slots-only venue owned by Genting Malaysia, is poised to become a full commercial casino if licences are granted. Analysts say RWNYC’s expansion — with plans for 4,000 slot machines and 250 table games by June 2026 (plus 150 more tables by January 2027) — could generate substantial revenue and profit well before rival bidders begin full operations.
Nomura forecasts RWNYC could reach US$2.9 billion in gross gaming revenue (GGR) by 2031 with EBITDA around US$394 million, using assumptions of high slot taxes and conservative growth. Maybank IB expects net profit to peak at MYR1.93 billion (approximately US$467 million) in 2030, benefiting from RWNYC’s first-mover timing.
Key Points
- RWNYC currently operates slots-only but is ready to expand into a full casino if licensed.
- Genting says it can open a permanent facility with 4,000 slots and 250 table games by June 2026, adding 150 tables by Jan 2027.
- Nomura projects US$2.9 billion GGR and US$394 million EBITDA for RWNYC by 2031 (assumptions: 56% slot tax, 30% table tax, 4% annual growth, 25% EBITDA margin).
- Maybank IB forecasts RWNYC’s net profit peaking at MYR1.93 billion (US$467m) in 2030, before rivals reach full operation.
- RWNYC’s early-mover advantage is key: competing bidders (Bally’s and Hard Rock) likely cannot open until around 2030.
- The Gaming Facility Location Board recommended three bidders; the New York State Gaming Commission now performs background checks before licences and fees are finalised.
Why should I read this?
Because this is where the money might be. If you care about casino-market shifts, investor opportunities or the US gaming landscape, this short piece shows how Genting could grab years of outsized profits thanks to timing and scale — and why regulators’ next steps matter. Quick read, big implications.
Author’s take
Punchy and to the point: analysts aren’t whispering — they’re forecasting massive uplifts. RWNYC’s ready-to-roll expansion could hand Genting a multi-year lead and sizeable cashflow before competitors even open. That’s headline stuff for investors and industry watchers.
Context and relevance
New York’s decision to award full commercial casino licences is reshaping the US East Coast gaming market. RWNYC’s potential rapid conversion from slots-only to a full resort-style casino highlights a trend: operators that can move fast and scale will capture the early market and earnings. The regulatory review by the New York State Gaming Commission is the immediate gating item; licences and fee payments are expected before year-end if checks pass.
