Genting builds on U.S. growth

Since entering the US market in 2011 with the launch of Resorts World New York City, Genting Group has made a number of major investments in the country, indicative of an operator intent on becoming a major player in the market. These investments have included the $236 million purchase of real-estate in Miami in 2011, a near $250 million investment as part of an agreement to run a proposed $1 billion tribal development in Taunton, Massachusetts, and, most eye-catchingly, plans for the estimated $4 billion Resorts World Las Vegas, which will be the first major new development on the Strip for almost a decade when it opens in 2019. These projects add up to a serious statement of intent in the U.S. from Genting Malaysia Berhad, the subsidiary which runs the Group’s U.S. casino business, even if a number of question marks remain over the particulars of its various interests. Population hubs “Genting’s...

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