Good morning. Genting appears to be getting more excited about the North American market than Asia, as it aims to offload Miami real estate for $1 billion, to invest in a New York casino and other operations there. This, as the group’s Hong Kong subsidiary reportedly sold off its Global Dream cruise ship to Disney for just $41 million. In Macau, Sands China is restructuring its local subsidiary, injecting nearly $600 million to comply with the gaming law ahead of signing its new concession agreement.

Your Daily Asia Gaming eBrief: Genting Berhad seeking $1bln for Miami real estate

What you need to know

  • Genting is getting excited about the US market, as it aims to offload Miami real estate for $1 billion to invest in a New York casino.
  • Sands China’s Macau subsidiary is undergoing a capital restructuring to fulfill its needs under the gaming law, shifting nearly $600mln.

On the radar

AGB Intelligence


Genting, Resorts World Miami, asia gaming ebrief

Genting to auction Miami land for $1bln, invest in NY casino

Genting appears to be offsetting losses in Asia by capitalizing on opportunities in North America, reportedly auctioning a Miami land plot for $1 billion. The funds are expected to go into a bid for a New York casino license, as it continues to ramp up its Resorts World Las Vegas property. And Disney is profiting strongly from the group’s cruise woes, picking up the Genting Dream for less than 3 percent of the ship’s expected construction value.

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