Genting’s Expansion Plans in New York Generating Positive Industry Predictions
Genting’s Push for Full Casino Licenses in New York
Genting Malaysia is actively pursuing a full casino license for Resorts World New York City, currently operating primarily as a slots-only facility. Industry analysts are optimistic about the potential growth of this venue, anticipating it will become a dominant competitor once it expands its gaming offerings. The proposal is among three strong contenders advancing after recently receiving backing from New York’s location committee.
Advantages Put Resorts World Ahead in the Downstate Casino Competition
Having operated as a racino for several years, Resorts World New York City holds a significant lead over rival casino projects. The company has ambitious plans to rapidly expand, with projections to open a permanent casino site featuring 4,000 electronic gaming machines and 250 table games by June 2026—approximately six months after license approval. Further expansion of table games is expected in early 2027. Competing proposals from Bally’s and Hard Rock are scheduled to start only in the 2030s.
Financial analysts are closely monitoring the development. Experts from Nomura forecast that by 2031, once all three downstate casinos are fully operational, Resorts World could achieve gross gaming revenues nearing $2.9 billion and generate operating profits of around $400 million. These projections assume existing tax structures, modest annual growth, and steady profit margins.
Similarly, Samuel Yin Shao Yang of Maybank IB anticipates strong short-term profit increases, estimating peak earnings of approximately MYR 1.9 billion (about $460 million) by 2030—before other casinos begin operations. This outlook highlights the benefits of Resorts World’s early launch and its solid player base in a lucrative gaming market.
Regulatory Review Underway as Genting Advances Worldwide
With profit forecasts underway, state authorities are preparing for the next steps in the licensing process. The New York State Gaming Commission is conducting thorough reviews of applicants, focusing on financial integrity, regulatory compliance, and overall fitness to operate casinos. Licensing is expected to be finalized before the end of the year once all requirements and fees are satisfied.
Concurrently, Genting’s parent company, Genting Berhad, has taken strategic financial actions including consolidating ownership of its Malaysian gaming division and securing additional funds through increased debt. Though these moves are separate from the New York project, they demonstrate Genting’s broader ambition to strengthen its global presence. Securing a downstate New York license would grant Genting a strong foothold in a profitable market ahead of emerging competitors, positioning the group for sustained growth.
