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Genting says $5.5bn financing is in place for Resorts World New York expansion

Deals & M&A

Genting said financing is in place for the Resorts World New York City expansion in New York, without disclosing the funding structure. The company put the total investment at $5.5bn, including $1.1bn already invested and $4.4bn in new capital expenditure, with the expanded property expected to be completed by 2029.

The financing and investment figures indicate the scale and planned timeline of Genting’s New York casino expansion.

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Deals & M&A

Fitch flags leverage pressure at Asia-Pacific gaming operators

Fitch said slower earnings growth and heavy capital spending are keeping leverage high among gaming operators in Asia-Pacific, with recent downgrades linked to company-specific pressures. It expects Genting Bhd's net leverage to remain above 4.0 times over the next three years and Genting New York's annual capital spending to average around US$800 million over the medium term.

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