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New York City casinos could become world’s biggest, bidders predict
The projects would bring the first full-fledged casinos to America’s most-populous city
New York City casinos could become world’s biggest, bidders predict
The projects would bring the first full-fledged casinos to America’s most-populous city
NEW YORK] Bidders for three New York City-area casino licences are projecting revenue that would place them among the most lucrative resorts in the world, according to an analysis of their proposals.
In Manhattan, the Freedom Plaza project is expected to generate US$2.2 billion in annual revenue in its first year of operation, rising to US$4.2 billion by year 10, while billionaire Steve Cohen’s project near Citi Field in Queens is forecast to produce US$3.9 billion annually by year three, according to executive summaries the bidders filed with the New York State Gaming Facility Location Board. https://www.businesstimes.com.sg/international/global/new-york-city-casinos-could-become-worlds-biggest-bidders-predict
*Why Genting Malaysia Berhad (GENM) Is Poised To Become The Next Superstock?!*
TARGET PRICE : RM3.90
? Strong Reasons Why GENM’s Share Price Could Boom
1. High Growth Outlook
Analysts forecast GENM to grow earnings over 38% annually over the next three years—significantly above the ~12% market average. That strong growth supports its premium P/E ratio
2. Undervalued Stock with Upside
SimplyWall estimates GENM is trading ~44% below fair value (~RM2.3 vs intrinsic RM4.0)
This indicates significant upside potential
3. Bullish Analyst Targets
According to Fintel, the average 12‑month price target is RM2.50, with top estimates reaching RM3.98
4. Full Control of Empire Resorts
GENM is acquiring the remaining stake in Empire Resorts, which owns Resorts World Catskills, Resorts World Hudson Valley, and RW Bet (sports betting platform). This move consolidates its gaming footprint in New York, enhances operational control, and creates room for cost synergies and margin expansion.
There is also strong potential for Genting Berhad to merge Resorts World Las Vegas with GENM's New York casino assets and pursue a strategic listing in the United States — a move that could significantly unlock value and elevate global investor interest.
5. Global Resorts & Theme Parks Portfolio
GENM operates major integrated resorts globally—including Malaysia, UK, US, Bahamas, Singapore—driving diversified earnings from gaming, hospitality, F&B, and attractions .
6. Flagship Domestic Asset
Resorts World Genting and the new Genting SkyWorlds theme park are major tourist magnets, driving robust domestic cash flows
7. Strong Parent Clout
As part of the Genting Group (RM27 bn+ revenue, RM105 bn asset base), GENM benefits from financial strength, global brand, and group synergies
8. Attractive Dividend Yield
GENM currently yields about 5%, offering steady income and investor appeal amid market volatility
9. Recovery Play on Leisure Reopening
Post‑COVID, travel and tourism are rebounding. GENM stands to benefit from renewed domestic and international leisure demand (theme parks, casinos, hotels)
10. Technical & Sentiment Signal
Technical indicators (Moving Averages) on platforms like Investing.com show a "Strong Buy" signal. Plus, even after recent lows, sentiment and analyst ratings remain positive
Thailand to withdraw casino bill as ruling bloc hit by crisis
UPDATED : 7 Jul
The government will withdraw a controversial bill to legalise casinos from parliament following mounting public opposition and a fresh bout of political turmoil that has reduced the ruling coalition’s majority.
A motion to withdraw the so-called “entertainment complex” bill from the current session of parliament will be raised on Wednesday when it was previously slotted for consideration, chief government whip Visuth Chainaroon told reporters on Monday.
“We’re not pulling it out of fear or anything,” Mr Visuth said. “We’d just like to communicate with the people first on the issue and clear any lingering doubts.”
CHINA INFLUENZA RELATED STOCKS RISE AS FLU CASES RISE IN CHINA
HMPV cases surge in Malaysia following China outbreak; Government issues advisory
HMPV cases are now reportedly rising in China. In 2024, 327 HMPV cases were reported in the country, a 45% increase compared to 225 cases in 2023. This increase comes amidst reports of rising respiratory illnesses in other countries, including China.
Public health agencies across Europe are warning of the alarming spread of a new COVID strain that's threatening the continent. Called the XEC variant, the virus has already been detected in at least 11 European nations. It's also been identified beyond the EU, in countries that include Canada and the United States. While scientists are busily working to understand more about this latest COVID mutation, populations are being urged to get tested and request vaccinations.https://www.starsinsider.com/health/769174/new-covid-strain-threatens-europe-the-us-and-beyond
