Genting Failed In Casino Bid For NY

Posted: December 19, 2014 in Uncategorized

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Extracts  of media reports

Assessment by Professional Ground

As reported by the media, Genting isn’t qualified and failed on the bidding of new casino resorts in New York.

In our assessment, Genting would be more likely to obtain licences in some Indian Reserves in the US, but not in any of the prime area such as New York.

One major factor, Genting’s culture just could not be easily assimilated into any local environment outside of Malaysia. That’s also the reason Genting didn’t get the in route into Macau.

Everyone hopeful would think that Genting had a good fighting chance to bid for the potential casino resorts licences in Japan, when the timing is right. We think otherwise. Japan is not at all the right playground for Genting Group. We count Genting’s Japan adventure will be even lesser chance than in the US.

We foresee the strong bidding power for a liberated Japan casino market to include Wynn Resorts, LV Sands, Melco Macau and MGM.

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