Genting Malaysia has redesignated Lee Choong Yan as a senior adviser and executive director from 1 March, with his retirement as senior adviser scheduled for 30 April. From 1 May 2026, he is due to become a non-independent non-executive director; the company said he will conclude a 30-year career with the group.
The planned changes alter leadership and board roles at Genting Malaysia.
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Fitch Ratings lowered Genting Berhad’s long-term issuer default rating to BBB- from BBB, with a stable outlook, citing casino expansion spending in New York and Singapore and a slower earnings ramp-up in New York. Fitch expects average annual capital expenditure of MYR9.2 billion between 2026 and 2028, while net leverage is forecast to remain above 4.0 times for the next three years.
Genting Malaysia recorded MYR27.0m in profit for Q2 2026. The result followed a MYR25.2m loss in Q1 2026 but fell below the MYR398.1m profit recorded in Q2 2025.
It was reported that Genting Malaysia began dissolving its Macau-incorporated subsidiary. The entity had unsuccessfully bid for a Macau gaming concession in 2022.
It was reported that Maybank cut its full-year earnings projection for Genting Malaysia by 28%. The bank cited lower gaming revenue at Resorts World Genting and Genting Casinos United Kingdom.
Genting Group chairman Lim Kok Thay said Resorts World New York City could become one of the group’s most successful gaming investments, potentially matching or surpassing Resorts World Sentosa in Singapore. He said the Queens casino met expectations after launching live dealer gaming in April, citing New York’s population and income levels.