is maintaining a cautious stance on the group s near-term prospects in the leisure and hospitality industry as the sector s outlook stays highly uncertain, but the conglomerate remains upbeat on carrying its long-term business strategies.
Chairman and chief executive Tan Sri Lim Kok Thay said while the regional gaming market has continued to register nascent recovery, significant challenges would persist in the coming year given the negative impact of the pandemic on the sector. These unprecedented challenges will not deter us from carrying out the Group’s long-term business strategies that will also help to spur the local economies,” he said in the company s 2020 Annual Report released today.
The Malaysian operations of Genting Malaysia Bhd should “turn around after the second quarter” this year, but the “drag” on the group caused by an associate, Empire Resorts Inc – which runs Resorts World Catskills, in upstate New York in the United States – “needs to be resolved soon,” said a Wednesday note from the Nomura banking group.
While Genting Malaysia’s first-quarter earnings “will likely be impacted due to an approximately one-month closure” of its flagship Resorts World Genting casino resort (pictured) near the Malaysian capital Kuala Lumpur, “second-quarter 2021 onwards should improve, in our view, led by… progress” in the drive to vaccinate consumers around the region against Covid-19, wrote Nomura analysts Tushar Mohata and Alpa Aggarwal.
KUALA LUMPUR (March 2): US-based law firm Cleary Gottlieb Steen & Hamilton LLP represented Genting New York LLC (GENNY) and its wholly-owned subsidiary GENNY Capital Inc in the group’s US$525 million (about RM2.13 billion) bond or senior notes offering, which was listed in Singapore,
Global Legal Chronicle reported today.
Casino and hotel operator Genting Malaysia Bhd wholly-owns GENNY, which developed and operates Resorts World Casino New York City, the only licensed casino facility within New York City and one of only two casinos located within 30 miles of the city limits of New York City, according to the
Global Legal Chronicle report.
By Forum Staff
Richmond Hill has two vibrant, diverse shopping centers: Liberty Avenue and 101st Avenue between the Van Wyck Expressway and Woodhaven Boulevard but there are sanitation and marketing challenges, according to a new Commercial District Needs Assessment that the Queens Economic Development Corporation created with NYC Small Business Services.
A local merchant group looks like the solution, organization officials said.
QEDC Program Manager Sam Smouha facilitated stakeholder meetings and gathered more than 620 surveys from storeowners, shoppers, workers, property owners, and residents between August 2019 and March 2020. The data was then compiled into this report, which provides insight on the local retail landscape and consumer characteristics.
KUALA LUMPUR: Genting New York LLC (GENNY), a subsidiary of the Genting Group, is expected to see a strong recovery post-pandemic with long-term opportunities on the horizon amid the economic recovery