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New York’s first table gaming floor lifts overall Genting revenue by 33 per cent
The transformation of Resorts World NYC (New York City) into a fully fledged casino in April helped boost revenues in Genting Malaysia’s US division by 166 per cent, although the cost of opening the new table gaming floor saw the operator post just a smaller profit.
Overall, Genting Malaysia generated a first-quarter profit of US$6.7m, down from US$98.4m in last year’s first quarter, but the underlying surge in revenue helped push the overall group revenue up by 33 per cent. Resorts World NYC relaunched with 242 gaming tables and 2,500 slot machines in April, before adding a further 1,400 slots in July.
Resorts World Las Vegas (RWLV) increased its revenue by one per cent with revenue reaching US$181m, for the quarter, suggesting that the vast majority of the US growth came from New York.
Revenues at Resorts World Genting (RWG) in Malaysia dipped slightly by one per cent to US$438m, whilst the UK and Egypt were down by the same percentage to US$125m.
Genting said: “The higher revenue was mainly attributable to the commencement of commercial casino operations in RWNYC, as well as the full-period contributions from Genting Casino Stratford and GERL Group in 1H 2026. The group continues to optimise the cost structure of its casino operations and capitalise on the operational and marketing synergies between RWNYC and Resorts World Catskills.”
“The group’s underlying operating performance continued to reflect a softer operating environment, in line with broader trends observed across similar markets regionally. The period was affected by moderating travel demand and more measured consumer spending amid prolonged geopolitical tensions in the Middle East. Performance was also impacted by inflationary cost pressures during the quarter. These headwinds were partially cushioned by contributions from the acquisition of Genting Casino Stratford and consolidation of Genting Empire Resorts in April 2025 and May 2025 respectively.
“The group also benefited from the commencement of the initial phase of full commercial casino operations at RWNYC on 28 April 2026, with the introduction of live table gaming and slot machines, as compared to a video gaming machine-only facility in 2Q 2025. As a result, the group’s revenue in 2Q 2026 was RM3,853.3m, an increase of RM934.8m compared with 2Q 2025. The increase of 32 per cent in revenue was partially offset by the strengthening of RM against GBP and USD.
“The global economic environment remains uncertain, as renewed geopolitical tensions in the Middle East and macroeconomic risks continue weighing on the growth outlook. Against this backdrop, the Group remains cautious of the near-term prospects in Malaysia and continues to monitor the operating environment closely in order to navigate these near-term headwinds. Nonetheless, certain major economies, such as the US, are expected to remain resilient underpinned by robust consumer spending and a steady labour market.
“For Malaysia, regional and domestic tourism are expected to remain under pressure as higher airfares and travel-related fuel costs continue to weigh on consumer travel decisions. The Group is focused on operational discipline and yield management to optimise performance and manage costs, whilst continuing to enhance Resorts World Genting’s integrated resort offerings to drive visitation and customer engagement. The group continues to invest selectively in infrastructure, attractions and new experiences to broaden its offerings and strengthen its competitiveness, and capitalise on the extension of Visit Malaysia 2026 into 2027.”
“In the UK and Egypt, the group continues to focus on customer proposition enhancements, operational efficiencies and prudent cost management to support business performance. The operating environment is expected to remain challenging, as ongoing geopolitical tensions in the Middle East may continue to affect international travel, particularly within the premium gaming segments in London and Cairo. The group will respond to the evolving market conditions through operational agility and disciplined execution.”
“In the US, the Group is focused on the phased development of RWNYC and launched its full commercial casino operations comprising 242 table games and 2,500 slot machines in April 2026. A further 1,400 slot machines were subsequently added since the opening. Building on this foundation, the Group officially broke ground for the next phase of its development in July 2026 to transform RWNYC into a full-scale integrated resort for gaming, entertainment and hospitality.”
