{"id":322566,"date":"2024-06-14T04:00:58","date_gmt":"2024-06-14T09:00:58","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=322566"},"modified":"2024-06-14T09:15:30","modified_gmt":"2024-06-14T14:15:30","slug":"genting-still-mulling-new-york-stock-listing","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/","title":{"rendered":"Genting Still Mulling New York Stock Listing"},"content":{"rendered":"

Genting Malaysia Bhd is still considering a New York equity listing that would be comprised of an entity holding some of the company\u2019s US gaming assets.<\/p>\n

\"Sports
The floor of the New York Stock Exchange. Genting is considering listing a US entity in New York. (Image: ABC News<\/em>)<\/figcaption><\/figure>\n

The long-talked-about move is viewed as a potential avenue for delivering value to shareholders and was discussed anew earlier this week at the conglomerate\u2019s annual meeting. Genting could list shares on the Nasdaq or New York Stock Exchange (NYSE) for a corporation comprised of Resorts World Las Vegas and Resorts World New York.<\/p>\n

Listing in the United States can unlock shareholder value and enhance the value of the group,\u201d COO and President Tan Kong Han said at the meeting. \u201cWe will obviously pay attention to this matter, but we also need to observe the environment in the United States and it will depend on the situation.\u201d<\/p><\/blockquote>\n

Genting also controls Empire Resorts<\/a>, which is the holding company for Resorts World Catskills, Monticello Raceway, sports betting operations in New York, and Resorts World Hudson Valley. It\u2019s not clear if Empire Resorts\u2019 assets would join the Resorts World properties in Las Vegas and Queens, NY as part of a US share listing.<\/p>\n

Genting Has US Listing History<\/h2>\n

Genting is familiar with the US listing process and securities regulations in this country. The aforementioned Empire Resorts previously traded on the Nasdaq<\/a> under the ticker \u201cNYNY\u201d before a near bankruptcy.<\/p>\n

Parent company Genting Malaysia took Empire Resorts private rather than let the unit collapse outright, and has continued to separate that entity with financing.<\/p>\n

\n

Before the Resorts World Las Vegas opening, there was some talk Genting could list in the US. In 2019, analysts noted the company could combine the New York assets, Resorts World Bimini Resort and Marina in the Bahamas, and a 30-acre parcel of land in Miami the company wants to build a casino on into a publicly traded US entity. That Florida land has since been sold.<\/p>\n<\/div>\n

In 2021, analysts estimated such a company could be worth $1.5 billion to $1.9 billion<\/a> by 2025, but that forecast didn\u2019t reflect the addition of Resorts World Las Vegas and the subtraction of the Miami property.<\/p>\n

New York Casino Could Be Genting US Listing Wildcard<\/h2>\n

Although Tan didn\u2019t comment to this effect, a potential variable in Genting\u2019s US listing plans could be the fate of Resorts World New York. The operator is competing to land one of the three downstate casino permits New York regulators are expected to award in late 2025 or early the following year.<\/p>\n

\n

The slots-only property in Queens<\/a> is widely viewed as one of the leading contenders for one of those licenses, but Tan didn\u2019t say if that is part of the equation when deciding whether or not to list a Genting stock in New York.<\/p>\n<\/div>\n

For investors, it could be. Should Resorts World New York convert to a Las Vegas-style resort, it could make Genting\u2019s US listing, assuming it materializes, more attractive to a larger swath of market participants.<\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Malaysia Bhd is still considering a New York equity listing that would be comprised of an entity holding some of the company\u2019s US gaming assets. The long-talked-about move is viewed as a potential avenue for delivering value to shareholders and was discussed anew earlier this week at the conglomerate\u2019s annual meeting. Genting could list […]<\/p>\n","protected":false},"author":46,"featured_media":250657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[81913,81903],"acf":[],"yoast_head":"\nGenting Still Mulling New York Stock Listing<\/title>\n<meta name=\"description\" content=\"Genting Still Mulling New York Stock Listing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genting Still Mulling New York Stock Listing\" \/>\n<meta property=\"og:description\" content=\"Genting Still Mulling New York Stock Listing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-14T09:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-14T14:15:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/\",\"url\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/\",\"name\":\"Genting Still Mulling New York Stock Listing\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg\",\"datePublished\":\"2024-06-14T09:00:58+00:00\",\"dateModified\":\"2024-06-14T14:15:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Genting Still Mulling New York Stock Listing.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg\",\"width\":1600,\"height\":900,\"caption\":\"The floor of the New York Stock Exchange. Genting is considering listing a US entity in New York. (Image: ABC News)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Genting Still Mulling New York Stock Listing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Genting Still Mulling New York Stock Listing","description":"Genting Still Mulling New York Stock Listing.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/","og_locale":"en_US","og_type":"article","og_title":"Genting Still Mulling New York Stock Listing","og_description":"Genting Still Mulling New York Stock Listing.","og_url":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2024-06-14T09:00:58+00:00","article_modified_time":"2024-06-14T14:15:30+00:00","og_image":[{"width":1600,"height":900,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/","url":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/","name":"Genting Still Mulling New York Stock Listing","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg","datePublished":"2024-06-14T09:00:58+00:00","dateModified":"2024-06-14T14:15:30+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Genting Still Mulling New York Stock Listing.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/nyse.jpg","width":1600,"height":900,"caption":"The floor of the New York Stock Exchange. Genting is considering listing a US entity in New York. (Image: ABC News)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/genting-still-mulling-new-york-stock-listing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Genting Still Mulling New York Stock Listing"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/322566"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=322566"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/322566\/revisions"}],"predecessor-version":[{"id":322599,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/322566\/revisions\/322599"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/250657"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=322566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=322566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=322566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}