GGRAsia – Genting NYC casino recovery before Asia venues: S&P ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Jan 26): S&P Global Ratings expects Genting Malaysia Bhd’s (GenM) wholly-owned subsidiary Genting New York LLC to register a sharp recovery after the Covid-19 pandemic-driven shutdown as Genting New York operations are located at the heart of the metropolitan area in New York and has a low dependency on tourists for gaming revenue.
In a note yesterday, S&P Global Ratings said that like other casinos, Genting New York’s operations were closed for six months from March 2020 due to the pandemic. However, with the resumption of normal operations from September to mid-November 2020, Genting New York s business was already nearly back to pre-Covid-19 levels,” S&P Global Ratings analysts Shawn Park, Simon Wong and Christina Lim wrote in the note.