Early days yet. Genting Malaysia (GENM) has entered into a non-binding LOI to consider developing a US$4b integrated mixed-use property on land adjacent to Resorts World New York (RWNY). We believe that this development will not proceed without the introduction of table games at RWNY to justify the investment, which will likely require at least two years to be legalised and another few years to be commercialised. Maintain Hold on GENM and RM3.88 DCF-based TP.

Maybank research (6 January 2012)

Click here for full report