The rating on Genting Bhd., a Malaysia-based gaming and leisure group, reflects the group's strong market position, strong cash flows, and modest financial risk profile. Genting's earnings concentration in the gaming business, potential risks from overseas expansion, and its exposure to evolving regulations temper these strengths. We view Genting's business risk profile as "satisfactory" and the financial risk profile as "modest". In our view, Genting has a strong market position. We also consider that the openings of Resorts World Sentosa (RWS) in Singapore and Resorts World Casino New York City have improved Genting's geographic diversity. Combined, these factors have strengthened Genting's brand awareness, and boosted other established brands such as "Resorts World", "Maxims", "Crockfords", and "Awana". Genting is currently the
