Maybank Investment Bank said Sunday they could raise Genting Malaysia’s long-term earnings estimates by as much as 74% following news that two key potential casino developments in the United States could be back on the menu.
As per local news reports, the New York State Gaming Commission has now resumed the Request for Applications (RFA) process for three downstate commercial casino licenses, with Genting Malaysia considered a frontrunner to expand its existing Resorts World New York City (RWNYC) property by adding table games. Should this occur, core net profit from RWNYC could climb to MYR610 million (US$130 million), according to Maybank IB’s Samuel Yin Shao Yang.
