Genting’s New York Plans Garner Positive Predictions

Genting Malaysia’s ambition to secure a full casino license for Resorts World New York City has sparked a wave of optimism among analysts. The current slots-only operation at the Queens venue could soon expand into a major gaming destination, transforming the site into a comprehensive entertainment hub. As one of the three proposals nearing approval by New York State’s location committee, Resorts World New York City already enjoys a competitive advantage, with plans to swiftly upgrade to a full casino featuring 4,000 electronic gaming units and 250 table games by June 2026. Additional table games are expected to follow in early 2027, significantly ahead of rival projects like Bally’s and Hard Rock, which are not projected to commence operations until the 2030s.

The financial community has taken notice of these developments, forecasting substantial revenue increases for Resorts World New York City. Analysts at Nomura predict that by 2031, the venue could generate gross gaming revenue of around $2.9 billion and $400 million in operational profits, assuming consistent profit margins and modest yearly growth. Such optimistic outlooks are based on the venue leveraging its head start and established customer base in one of the nation’s most lucrative gaming markets.

Maybank IB’s Samuel Yin Shao Yang anticipates an even more significant short-term uptick, estimating that profits could peak at MYR 1.9 billion ($460 million) by 2030, before competing sites become operational. This rosy projection highlights the inherent advantage of Resorts World’s speedy launch and existing patronage. Meanwhile, New York state officials are preparing for the next phase by conducting thorough evaluations of all applicants. The New York State Gaming Commission will scrutinize financial stability, regulatory compliance, and other critical factors before issuing licenses, which are expected to be finalized by the end of the year.

In parallel, Genting Malaysia’s parent company, Genting Berhad, has been maneuvering to bolster its financial resources. Recent moves to acquire full ownership of its Malaysian gaming operations and raising additional capital through increased debt indicate a strategic positioning for global expansion. Although these maneuvers are not directly linked to the New York project, they offer insight into Genting’s broader intent to reinforce its market presence worldwide. Securing the downstate casino license would cement Genting’s leading position in New York, offering a critical early advantage over future competitors and setting the stage for long-term growth.