Genting Malaysia Berhad reportedly recorded group revenue of RM3,357.8 million in the third quarter of 2025, equivalent to about €702 million. The report’s headline links the results to an upcoming New York licence decision, but the available text provides no further details.
Investors can use the reported quarterly revenue to assess Genting Malaysia’s performance as the New York licence decision approaches.
The day’s most important stories, free. One email a day.
Fitch Ratings expects Genting New York to generate approximately US$450m in EBITDA in 2028. The forecast reflects a gradual expansion of gaming at Resorts World New York City, which Genting New York operates.
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.
It was reported that Genting Malaysia began dissolving its Macau-incorporated subsidiary. The entity had unsuccessfully bid for a Macau gaming concession in 2022.
Resorts World New York City’s 242 table games generated $4.9 million in gross gaming revenue from 28 April to 3 May, according to a Maybank research note. Analyst Samuel Yin Shao Yang put revenue at about $3,400 per table per day, below Maybank’s $7,500 estimate; slots recorded $23.5 million for the week ended 3 May.
S&P Global Ratings revised its outlook on Genting Group to negative, citing continuing and planned capital investment in New York and Singapore, according to a report. The agency said Genting’s 2026 capital expenditure could double from RM6 billion in 2025, while its debt could rise towards RM35 billion by 2028 from RM21 billion in 2024.