Genting Malaysia’s indirect wholly-owned subsidiary, Genting ER II LLC has entered into a subscription agreement for up to US$20 million of additional stocks of Empire Resorts, according to a company filing.
Resorts World Las Vegas is expected to generate revenue of $350 million in 2022 and EBITDA of $82 million in its first full year after opening this summer, according to Nomura Research.
This week's "By The Numb3rs" compares the change in land-based casino gross gaming revenues (GGR) across five key gaming jurisdictions in Asia-Pacific.
Colin Mansfield, an analyst with Fitch Ratings, spoke with Asia Gaming Brief's Managing Editor Sharon Singleton about the impact of the Covid crisis on the balance sheets and credit ratings of Asia's operators and the road to recovery.
Genting Malaysia Bhd (GenM) bought back two million shares on the open market for a total of RM6.31 million ($1.5 million), with the price ranging between RM3.15 and RM3.16, according to a filing with the local stock exchange today.
The Malaysia Anti-Corruption Commission has arrested a high-ranking businessman suspected of accepting bribes worth RM300,000 for help in releasing 22 Chinese nationals held in an online gambling bust. The man carried the title of "Datuk Seri," which denotes a high rank.
Genting Group-owned Resorts World Casino New York City and Miami Hilton have filed a suit against more than a dozen insurers claiming they wrongly denied coverage for some US$500 million in losses to the two resorts during the Covid-19 pandemic.
Genting Malaysia is asking staff to take temporary pay cuts of between 15-20 percent as it seeks to cut costs amid ongoing Covid shutdowns, Bloomberg reports citing an internal memo.