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Sell Miami assets and Empire assets can liao.. US1 billion + US525 mil.. then wait Las Vegas stable up revenue and profit in 2027 along with New York and lump up both as Genting US to list and cash out..
I don't think they will lower the tax for now mainly due to the other's two license holders are operating green field and only able to open their casino by 2030.. means Resorts World New York is the only full casino operators in New York for the next few yrs. Genting request is not to lower now but standardise the tax across 3 players for fair competitions once 2030 when both started. As such, we can only knew whether the authority will standardise as per Genting gaming tax structured.
For now seem hard but since Genting have more than 73 percents in hand.. just have to get another 2 percents more will not comply with public shareholdings and can opt to delist GenM.. so those who not accepted might be problem if delist due to compliance issues.
I think eventually the might not reduce the rates proposed but could give tax incentives to Genting and if two (2) license also good for ease of monitoring and lesser competition and higher chance of survival and achieve the tax the US want.
New York for them is profitable since 1st day even with slot machine only in Queen but the proposed tax rates is too high even Genting able to turn to full casino faster compare the other 2 bidders which need start from greenfield. That's why yesterday ask to reduce rates compare to the 2 bidders or increase their rates for fair competition
Who know later only 2 licenses will be issue.. Resorts World and Hard Rock (which political back strong).. to justify higher tax rates which Genting put 56% table and 30% slot machine while others two only quote 30% and 10%.
