Content Writer: Janice Chew • Sunday, 25/11/2025 - 20:50:13 - PM
Genting Malaysia’s U.S. expansion plans took a bold turn as its subsidiary Resorts World New York City (RWNYC) announced a commitment to contribute US$2.5 billion to the Metropolitan Transportation Authority (MTA) during its first four years of operation under a full commercial licence — a figure that exceeds the MTA’s prior budget of US$1.8 billion from all three downstate casino licences combined.
The move aligns with Genting’s aggressive bid for one of New York State’s up-to-three downstate full-scale commercial casino licences. Analysts from Maybank Investment Bank consider Genting “virtually assured” of winning a licence, citing its early launch capability (RWNYC aims to open by June 2026) and strong fiscal promises.
Genting’s revised submission also sees an elevated licence-fee proposal of US$600 million, paired with a high-tax rate structure and steep commitments to community and transport funding. Their bid emphasises speed, scale, and fiscal contribution — factors likely enhancing its competitiveness.
For Genting, winning the licence could reshape its global footprint, positioning RWNYC as a flagship U.S. destination and boosting Genting’s earnings profile meaningfully. But the deal still hinges on regulatory approval, execution of the expansion plan, and managing the financial and operational risks tied to such an ambitious U.S. casino project.