Stable and resilient cash flows from Malaysian gaming business. Encouraging results so far from the Sentosa integrated resort suggests potential for significantly higher sustainable cash flows. Likely continued intermediate financial risk profile. More concentration on its gaming business segment with the introduction of Sentosa integrated resort, and a video lottery project in New York. Increasing competition from expanding regional markets. The ratings on Genting Bhd. reflect the company's stable and resilient cash flows derived largely from its Malaysian gaming business; potentially sustainable strong cash flow generation from its newly opened Sentosa integrated resort (Sentosa IR) in Singapore; and our expectation that the company will maintain its intermediate financial risk profile over the next couple of years. In our view, Sentosa
