Genting’s Optimism for New York Casino
Lim Kok Thay, chairman of Genting Group, shared that Resorts World New York City could potentially become one of the company’s most successful ventures, possibly rivalling the performance of their Singaporean property, Resorts World Sentosa. The statement came after a shareholder gathering where Lim, who is also the deputy chairman and CEO of Genting Malaysia, emphasized the casino’s promising start since its live dealer gaming introduction in April. The performance has aligned with forecasts, with more detailed analytics in progress to compare past expectations and current outcomes.
New York’s Market Potential
According to Lim, the New York casino stands as the city’s first comprehensive commercial casino, thus lacking extensive historical data for operational comparison. Yet, New York’s significant consumer base, wealth, and global financial influence suggest a strong market foundation. He compared it to Singapore’s Resorts World Sentosa, viewing New York’s financial landscape as broader with increased potential for economic engagement.
Strategic Developments and Licensing
Resorts World New York City, close to Aqueduct Racetrack, emerged as a favored contender for a downstate commercial casino license last December. The site initiated live dealer options with over 240 table games, featuring popular choices like blackjack and roulette, and offered 1,500 gaming positions and 2,500 slot machines. Plans are underway to enhance gaming capacities by 2026 as part of ongoing development phases.
Clarifying Genting Malaysia’s Status
Lim addressed queries about Genting Berhad’s offer to acquire Genting Malaysia shares, following speculation of a potential privatization. He clarified, referencing Sinchew Daily, that the proposal sought to gain majority control without constituting privatization, a term sparked by analysts rather than official documentation. The offer, made in October 2025 for MYR6.74 billion ($1.6 billion), aimed to increase Genting Berhad’s stake beyond its existing 49.36% shareholding.
Future Outlook for Genting Investments
While Genting Malaysia was the acquisition target, Lim highlighted decisions on similar proposals would rely on market dynamics rather than company directives, reinforcing Genting’s commitment to transparent corporate governance and strategic growth. For more on how market dynamics influence the broader industry, you might be interested in what lies ahead for the industry in gaming M&A trends.
