• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

GEN Malaysia win if NY has downstate casinos: analyst

Nov 08, 2021 Newsdesk Latest News, Top of the deck, World  


GEN Malaysia win if NY has downstate casinos: analyst

Global casino operator Genting Malaysia Bhd might know after June 30 next year, whether New York state, in the United States, will initiate a process to offer up to three downstate commercial casino licences, says a Sunday note from Maybank IB Research.

“A downstate commercial casino will be the ‘ultimate prize’ for Resorts World [Casino] New York City, as it will be allowed to deploy table games and be located in or near New York City,” wrote analyst Samuel Yin Shao Yang.

Maybank’s note comes after the New York State Gaming Commission launched, in late October, a request-for-information (RFI) process on the possibility of three downstate commercial casino licences, seeking information from interested parties to determine the way forward.

Genting Malaysia’s 100 percent-owned current downstate facility, Resorts World Casino New York City (pictured), is – notwithstanding its name – presently unable to offer table games and is instead a video lottery terminal (VLT) venue, according to Maybank.

A downstate casino licence would help that property “accrete circa US$145 million… in net profit per annum,” suggested Mr Yin.

The institution said it had not been able to clarify New York state’s 2020 casino gross gaming revenue (GGR) due to different reporting standards for tribal casinos versus commercial ones.

But Maybank said the casinos in five states that surround New York state recorded in total US$7.4 billion in GGR for 2020, which it noted was significantly more than the “pre-Covid-19 GGR of Singapore,” which in 2019 had been US$4.5 billion.

The New York gaming regulatory body would prepare and distribute a report on a request-for-information process it had initiated into the downstate casino licence topic, noted Maybank. The deadline for responses would be December 10, it added.

The commission would prepare and distribute a report with the results of the RFI process to the New York governor and state legislature “no later than six months after 10 December 2021,” noted Maybank.

Genting Malaysia has a 49 percent interest in an upstate New York commercial casino – Resorts World Catskills – via an investment in Empire Resorts Inc.


  • tweet
Related articles
  • Genting says SkyWorlds key to Malaysia flagship ramp up
    Genting says SkyWorlds key to Malaysia...

    Jun 21, 2022  

  • Genting to pay US$12mln to end lawsuit on Empire Resorts
    Genting to pay US$12mln to end lawsuit...

    Jun 15, 2022  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Okada Manila control dispute back in court: UniversalOkada Manila control dispute back in court: Universal June 22, 2022
  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
  • Macau gaming ops contract rollover signed today: CEMacau gaming ops contract rollover signed today: CE June 23, 2022
  • Macau shuts leisure sites amid Covid, casinos can still runMacau shuts leisure sites amid Covid, casinos can still run June 23, 2022
  • Claimed US$3.5mln scam on Chinese, Daegu Casino: reportsClaimed US$3.5mln scam on Chinese, Daegu Casino: reports June 22, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us