Inside Asian Gaming

IAG JAPAN AUG 2021 72 JAPAN While Genting’s Singapore and Malaysian IRs have nevertheless proved wildly successful over the years, there are concerns over the profitability potential for two of its three US casinos – RWLV and Resorts World Catskills. Likewise, the company’s cruise ship arm Genting Hong Kong has been battered by COVID-19 and recently announced a financial rescue package in partnership with creditors to help it avoid insolvency. FINANCIAL CAPABILITY With operations spread globally and a vast domain of subsidiaries under its umbrella, Genting has long mastered the art of moving financial resources around to suit its needs. One need only look as far as Empire Resorts – the entity that owns troubled New York casino Resorts World Catskills, which has been kept afloat by more than US$210 million in funding from Genting Malaysia over the past 18 months – as an example. Nevertheless, it is widely accepted that Genting and its Japanese consortium partners (more on them later) not only have a substantial war chest at their disposal but a variety of options to raise capital, be it locally or via foreign investment. Despite spending US$4.3 billion on RWLV, opened in June, talk of a potential US listing opens the door to the world’s largest investment market, not to mention the fact that Genting already boasts listings on the Malaysian, Singapore and Hong Kong exchanges. When it comes to Yokohama, it seems unlikely that financing would be an issue that stands in Genting’s way. Genting Group's Malaysian IR, Resorts World Genting ゲンティン・グループのマレーシアIR、リゾーツワールドゲンティン