KUALA Lumpur: Resorts World New York City is in a good position to win one of the three downstate commercial casino licences offered by the New York State Gaming Commission (NYSGC), says Maybank Investment Bank Research.

       It said in a note that the commission has launched a request for information (RFI) for interested parties for its planning purposes.

       The deadline for submission of questions is Nov 10, 2021, and the deadline for RFI response submission is Dec 10, 2021.

       The NYSGC will prepare and distribute a report with the results of the RFI to the New York Governor and State Legislature no later than six months after Dec 10, 2021.

       "If NYSGC proceeds to launch a request for proposal, we opine that RWNYC will have an edge as it can deploy table games and generate additional tax revenue for New York State quickly as opposed to a greenfield casino," said Maybank IB.

       According to its calculations, Resorts World New York City can accrete about US$145mil (RM610mil) in net profit and 53 sen to its discounted cash flow target price to Genting Malaysia should it be allowed to be converted into a downstate commercial casino.

       "That would bring our ‘blue-sky’ GENM TP to MYR3.93," it added.