Genting Bhd surged 12.62% to close at RM3.39 as of 3.42 pm today, following strong buying momentum that saw 64.68 million shares traded. The stock opened at RM3.03, touched an intraday high of RM3.42 and a low of RM3.02, with buy volume at 43.62 million shares against 38.66 million on the sell side.
The rally comes after Genting Malaysia Bhd submitted its final supplemental application materials on October 14 2025 for one of the highly anticipated downstate New York commercial casino licenses. The filing was made through its indirect wholly owned subsidiary, Genting New York LLC, to the New York Gaming Facility Location Board (NYGFB) as part of the final evaluation process.
“The NYGFB is expected to announce the winning bidders by December 1 2025, with licenses to be issued by December 31 2025,” the company said in a filing to Bursa Malaysia, adding that further announcements will be made on any material developments.
Investors appear to have responded positively to Genting’s potential US expansion, reflecting confidence that securing a New York casino license could boost the company’s growth prospects in the American gaming market.
