CreditSights: Genting Could Sell Miami Real Estate to Fend Off Credit Downgrade

Genting Bhd, the Malaysian conglomerate with an array of casino holdings, may need to sell some assets to ward off a credit downgrade and its unused Miami real estate could be atop the list of potential divestments. In a recent report, CreditSights analysts praised Genting, which owns Resorts World Las Vegas , for a recent $306 million rights issue that raised needed capital, but the research firm says bolder, larger steps must be taken to shore up the company’s finances. Those could include selling “non-core assets,” including the Miami land.