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New York casino outstrip the rest of the US, Simon Liddle InterGame

Resorts World New York, the $800m casino complex operated by Genting, claims to have been the most lucrative slot operation in the whole of the US in May. The casino, which is not permitted to operate table games, generated gross gaming revenues of $57.5m in May, outpacing Connecticut’s Mohegan Sun at $55.5m. It also claims to have surpassed the slot gaming revenue generated by casinos in Las Vegas, Pennsylvania and Atlantic City.

 

The property was opened in October 2011 at the state’s Aqueduct racetrack. Under an agreement with the State of New York, 70 per cent of Resorts World’s monthly gaming revenues goes to education, the horse racing industry and other state entities.

 

Resorts World contributed $40m to the state in May, compared with the $30m contributed to Nevada by the 41 Las Vegas Strip casinos combined. To date, the casino has contributed $252m in taxes to the state. This arrangement is seen as key to the full legalisation of casinos in New York, which will require an amendment to the constitution approved by a public referendum. Proposals include licensing up to seven full-scale casinos.

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Genting profit fall, iGaming Post

Genting profit fall, iGaming Post | Poker & eGaming News | Scoop.it

GENTING Singapore announced recently that its first-quarter net profit dropped 33 per cent on-year to S$205.5 million due to lower gaming revenue. Profits were also dragged by greater depreciation after the opening of new hotels and attractions at its Universal Studios theme park, the Singapore unit of Malaysia’s Genting said.

 

Its Singapore casino, Resorts World at Sentosa, made S$376.4 million in adjusted earnings before interest, tax, depreciation and amortisation last quarter, down from S$528.4 million a year earlier. Genting’s EBITDA was lower than the US$472.5 million reported by rival Marina Bay Sands. Resorts World’s net revenue fell 14 per cent to S$787 million, due to the casino’s lower win percentages and business volumes in the premium-player business.

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