New York City is preparing to open its first casino offering live table games, with Resorts World New York City set to begin operations on April 28 in Queens. The development marks a milestone for the city’s gaming industry, as the facility near Aqueduct Racetrack transitions from a slots-focused venue into a full-scale commercial casino. The launch follows the company securing one of three downstate casino licenses approved by the New York State Gaming Commission in December. While competing projects […]

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Genting Malaysia reported stronger overall revenue for the fourth quarter of 2025, even as its flagship Malaysian resort recorded weaker gaming results during the period. The group generated MYR3.01 billion (US$783 million) in revenue for 4Q25, representing a 10 percent increase from a year earlier. Operations in the United Kingdom, Egypt, the United States and the Bahamas lifted the quarterly performance, alongside the consolidation of New York-facing subsidiary Empire Resorts into the company’s financial results. Across the group, adjusted EBITDA […]

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Moody’s Ratings has issued a series of downgrades across Genting Berhad and two major subsidiaries after months of review, pointing to heavier debt loads and a slower rebound in earnings. The rating agency’s latest assessment affects Genting Berhad, Genting Singapore, and Genting Overseas Holdings, with each now carrying a “stable” outlook following the revision. Moody’s lowered Genting Berhad’s rating to Baa3 from Baa2 and applied the same downgrade to Genting Overseas Holdings. Genting Singapore, which manages Resorts World Sentosa, moved […]

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New York’s long-running process to determine who will receive the highly anticipated downstate casino licenses is about to reach its conclusion. After years of competing pitches, shifting political dynamics, and a field once packed with more than a dozen hopefuls, only three bids remain. The state’s Gaming Facility Location Board will meet on Monday to announce which proposals, if any, will be granted the coveted licenses. Evaluation Process Reaches Its Final Stage The five-member board will convene at 10 a.m. at […]

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As more competitors drop out of the downstate New York casino race, Yonkers Mayor Mike Spano is calling on state officials to immediately issue casino licenses to MGM Empire City Casino in Yonkers and Resorts World New York in Queens. Major bidders exit, community-backed sites remain: In a public statement, Spano emphasized that both venues are “shovel ready” and backed by strong community support, making them ideal candidates for two of the three available downstate licenses. “We have two racinos whose owners are ready to pay the State a billion […]

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Genting Berhad, the Malaysian multinational corporation known for its diverse ventures in the gaming and entertainment industry, reported a significant decline in revenue and profit for the third quarter of 2024. The company attributed these results to multiple challenges, including economic uncertainty, extreme weather conditions, and operational expenses across its leisure and hospitality divisions. Resorts World Las Vegas (RWLV), Genting’s flagship property in the United States, experienced its weakest quarter in two years. Revenue dropped to $177 million, a sharp […]

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In a recent legal confrontation, Genting Malaysia has publicly denounced claims made against its subsidiary, Genting Americas Inc (GAI), by RAV Bahamas Ltd, describing them as “malicious and baseless.” The dispute stems from allegations related to financial mismanagement at the Resorts World Bimini in the Bahamas, where RAV Bahamas, holding a 22% stake, has accused Genting, which owns the remaining 78%, of financial negligence. Details of the dispute: The contention escalated with a filing on Thursday in response to the Malaysian Bourse’s inquiry for more clarity concerning the lawsuit […]

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In what has become a contentious legal drama, the original developer of Resorts World Bimini, RAV Bahamas, has initiated a lawsuit against its partner, the Malaysian conglomerate Genting. The lawsuit, filed in the Southern District of Florida, alleges severe financial mismanagement and seeks damages exceeding $600 million, accusing Genting of devaluing a once-thriving venture into what is described as a “financial wasteland.” A partnership turns sour: At the heart of this dispute is Genting’s alleged mismanagement of the joint venture in which it holds a controlling […]

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Genting Malaysia Berhad’s President and Chief Operating Officer (COO), Tan Kong Han, has reassured shareholders that the company’s casinos will continue operating, attributing this to the robust performance of its Resorts World Genting (RWG) business. In a statement made during the company’s annual general meeting (AGM) on Wednesday, quoted by Asia Gaming Brief, Tan expressed his confidence that the government would not consider closing the casinos. This assurance is based on the continued growth and success of Genting Highlands, also […]

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Four days after saying that he’d make a decision this week on commercial casinos, New York Gov. Andrew Cuomo made good on his promise, announcing Thursday the state’s nontribal casinos and video lottery terminal facilities will be permitted to reopen with limited capacity from Wednesday, Sept. 9 after being closed since March 16, 2020, due to the coronavirus pandemic. Cuomo has taken heat for excluding the state’s four commercially-run casinos from any reopening efforts, even as Native American-operated gambling establishments […]

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