Genting Malaysia’s US casinos, led by Resorts World New York City (RWNYC), are seen contributing 36% of group-wide EBITDA as early as next year following a solid start to full casino operations since launching table games at the New York flagship in April, according to Maybank Investment Bank.
In a note following release of Genting Malaysia’s 2Q26 financial results late last week, Maybank analyst Samuel Yin Shao Yang said he was bullish on RWNYC’s prospects after it helped EBITDA from the group’s US operations – which also include Resorts World Catskills and Resorts World Hudson Valley – rise 169% quarter-on-quarter to MYR216.6 million (US$53.6 million).
This follows the company being granted one of three full casino licenses for downstate New York in December and becoming the first to launch table games as of 28 April 2026. The other two licensees, Hard Rock Metropolitan Park and Bally’s Bronx, are not expected to open their new resorts until 2030, giving Genting Malaysia a four-year monopoly on table games play in the vicinity.
Weekly table games GGR at RWNYC has more than doubled since opening from US$4.94 million in the first week to US$9.87 million in the week ending 9 August.
In its note, Maybank observed, “In 3Q26 to date, RWNYC GGR has also been trending higher as operations ramp up. It plans to raise its table count (including deploying VIP tables) to 400 by early next year.
“We forecast Genting Malaysia’s US operations to contribute 36% to group EBITDA in FY27 or up 20ppts from FY25.
“It is this earnings growth driver that compels us to maintain our estimates [and] BUY call.”
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