...We expect Genting New York LLC (GENNY) to receive strong support from its ultimate parent GENT under almost all foreseeable circumstances. GENNY has been operating the Resorts World Casino New York City (RWNYC) since 2011. GENNY is an integral part of GENT's global expansion, given its strategic position as the biggest single-asset casino operator in the metropolitan area of New York. GENNY is the biggest taxpayer in the state of New York and is the only licensed casino operator (slot machines) within New York City. As such, we expect the company to be a frontrunner in bidding for potential full casino licenses or other business opportunities. This would further cement GENNY's importance to GENT. We expect GENNY's operating performance to remain stable in 2023. Absent any major disruption from COVID-19, GENNY will likely maintain steady operations. The company reported EBITDA of US$82 million in the first nine months of 2022, which was up 2% year on year. Despite operating at full scale...
