Good Morning. Everything must go. Genting Malaysia Bhd’s U.S. subsidiary, Empire Resorts, will sell non-gaming assets at Resorts World Catskills for $525 million to improve its finances, using the money to buy land, pay off debt, and lease back assets. Meanwhile, two major Philippine e-wallet providers, GCash and Maya, have cut connections with online gambling platforms after an order issued by the country’s central bank. In Macau, J.P. Morgan analysts are expecting sustained growth through early 2026, with rising gaming revenues and robust mass-market demand.
What you need to know
- Genting Malaysia Bhd’s U.S. subsidiary, Empire Resorts, will sell non-gaming assets at Resorts World Catskills for $525 million to strengthen its balance sheet.
- Philippine e-wallets GCash and Maya cut gambling access after BSP order, marking a key step in curbing online gambling addiction.
- Macau’s casino sector is poised for sustained growth through early 2026, with rising gaming revenues and robust mass-market demand, J.P. Morgan reported.
On the radar
- Rota Blue awarded land-based and online casino licenses.
- Sands China declares $258M interim dividend despite profit decline.
- Emerald Bay slip pushes PH Resorts’ losses to record $116M in 1H25.
- Sun Group selected to develop $2 bln IR in Northern Vietnam.
AGB Intelligence
UNITED STATES
Genting Malaysia to enhance NY position with $525M sale
Genting Malaysia has announced that its U.S. subsidiary, Empire Resorts, will sell a portfolio of non-gaming assets at its Resorts World Catskills property to the Sullivan County Resort Facilities Local Development Corporation for $525 million. This strategic move aims to strengthen Empire’s balance sheet by using the proceeds to acquire 1,554 acres of land, redeem $300 million in senior unsecured notes, and provide surplus working capital. Empire will lease back the assets and operate them under a long-term management agreement, allowing it to become debt-free and enhance its competitive position in the New York gaming market.
Corporate Spotlight
Why Asia’s iGaming operators must rethink risk strategy | SEON
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
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INTELLIGENCE | ASEAN | CAREERS
