Good Morning. You have to take risks to get rewards. Genting Berhad is showing that it is doing just that, with its takeover of Genting Malaysia and its push to secure a downstate New York casino license. But this has weakened its overall financial position, causing Moody’s to downgrade its ratings of the company and two subsidiaries, despite seeing a positive future ahead. Looking at Macau, this year’s GGR outlook has been revised up, boosted by premium play. And in further expectations for this year, Ainsworth warns of a possible dip in revenue and profit in 2H25, despite APAC remaining consistent.
What you need to know
- Genting Berhad’s takeover of Genting Malaysia and costs from a likely New York casino license cause Moody’s rating downgrade.
- UBS revises Macau’s 2026 GGR outlook upward, noting firm premium demand and continued growth in high-end tourism offerings.
- Ainsworth Game Technology is expecting a dip in revenue and profit in 2H25, on lower sales in North America but consistency in APAC.
On the radar
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- PH police go after POGOs hiding behind BPOs/IT solutions companies.
- Myanmar authorities demolish 333 illegal buildings in KK Park crackdown.
- Wynn Al Marjan unveils art collection to debut at spring 2027 openi
AGB Intelligence
GENTING
Moody’s downgrades Genting Berhad and subsidiaries
Genting Berhad’s ambitious move to take over Genting Malaysia, as well as a significant investment required to secure a commercial casino license in New York, have caused Moody’s to downgrade the ratings of Genting Berhad and two subsidiaries. The group is expected to benefit from a heady first-mover advantage in New York. However, Moody’s notes that GENB has an ‘already weak position’, strained by increased debt from the takeover and further spending needed for New York.
Industry Updates
- MGM and CityU wrap up the second edition of Responsible Gaming Project.
- Play’n GO launches in the US through Fanatics Casino partnership.
- Stretch Network rolls out major platform update packed with key features.
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