Maybank expects earnings to soar, but CreditSights warns of credit pressures.
Malaysia.- With Genting Malaysia now all but guaranteed to be able to start full table game operations in New York next year under a Class III downstate casino licence, Maybank has forecast that net profit could reach MYR1.93bn (US$406bn) by 2030. It notes that Genting expects gross gaming revenue at Resorts World New York City (RWNYC) to more than double once Phase 1 is completed in late 2026 or early 2027.
However, research firm CreditSights has issued a more cautious assessment, citing credit pressures. The firm notes that the New York project will be “largely debt-funded and front-loaded,” potentially pushing Genting Malaysia’s net leverage to 6x–6.2x if the company fails to advance a sale of its Miami land assets.
CreditSights also warns of a heightened risk of rating downgrades for both Genting Berhad and Genting Malaysia. Although Genting Berhad’s recent takeover offer increased its stake in Genting Malaysia from 50 per cent to 73.13 per cent, it fell short of the 75 per cent threshold required to delist the operator. Under Malaysian takeover rules, it cannot purchase more voting shares for the next 12 months.
Maybank expects earnings to soar, but CreditSights warns of credit pressures. Malaysia.- With Genting Malaysia now all but guaranteed to be able to start full table game operations in New…
Participe da IGI Expo 2026: https://igi-expo.com/


