Genting’s New York IR debuts, eyes Asian tourists

The $1.2 billion Resorts World Catskills opened its doors on February 8, expanding the Genting brand in the U.S., even though the Malaysian company missed out on a license for its own property in New York State. The property, which is the biggest of four new resorts in the upstate area, will be the first IR in the U.S. to carry the Genting name. The company has been pushing hard to penetrate the North American market, though with mixed results. In 2015, Nasdaq-listed Empire Resorts was awarded the license to operate the Montreign Resort Casino, one of four given out by regulators in a bid to boost tourism and employment in the economically depressed upstate region. The company’s majority shareholder is Kien Huat Realty, which is owned by Genting Chairman Lim Kok Thay. The Genting Group, which operates a “racino” in Queens, New York, had put in its own proposal for a...

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