Genting’s New York Plans Spark Positive Predictions

Genting Malaysia’s efforts to get a full casino license for Resorts World New York City have led analysts to make optimistic forecasts. They believe the Queens venue will become a major player once it grows beyond its current slots-only operation. The proposal is now one of three that are coming close to getting the green light after winning support from the state’s location committee earlier this week.

Analysts Highlight Big Advantage for Resorts World in Downstate Race

Resorts World New York City, which has run as a racino for years, has a big lead over its two rivals. The company says it could change to a full casino very fast: a permanent site with 4,000 electronic gaming units and 250 table games might open by June 2026, about six months after getting a license, with more table games coming in early 2027. On the other hand, plans from Bally’s and Hard Rock will not start until the 2030s.

Investment firms are paying attention. Nomura’s experts predict that by 2031, when all three downstate casinos are expected to be in full swing, Resorts World might see its gross gaming revenue go up to about $2.9 billion, bringing in $400 million in operating profits, reported Inside Asian Gaming. These estimates are based on the current tax setup, small yearly growth, and consistent profit margins.

Another forecast, from Maybank IB’s Samuel Yin Shao Yang, predicted an even bigger short-term rise. He figured profits linked to the growth might peak in 2030, topping MYR 1.9 billion ($460 million) before competing sites are up and running. This outlook shows the benefit of a quick launch and the property’s existing clientele in one of the country’s most profitable gaming areas.

Licensing Scrutiny Begins While Genting Strengthens Global Growth Strategy

As experts break down possible profits, state officials get ready for what is next. The siting board has given its advice, so now the New York State Gaming Commission starts to take a close look at who has applied. This means checking financial matters, making sure applicants are fit for the job, and looking at how they will follow the rules. Once they pay what they owe, they will get their licenses. We expect this to happen before the year is over.

The short-term financial moves of Genting Malaysia’s parent company set the stage for the group’s plans in the US. Genting Berhad took steps to fully own its Malaysian gaming branch and has been getting more money to back this plan by taking on extra debt. While not tied to the New York project, this move shows a bigger plan to make their financial position stronger as the group looks to grow in key markets around the world. If they get the downstate license, Genting would be able to secure its place in New York well before new rivals show up, giving the company a big head start for growth.