KUALA LUMPUR (Sept 20): Empire-owned Resort World has recently offered New York sports betting on-site and plans to introduce online sports betting if the New York government would allow it. 

But UOB Kay Hian says the incremental revenue from New York sports betting would still be insufficient to stem Genting Malaysia-owned Empire's substantial losses. 

Genting Malaysia's hefty investment in U.S.-based Empire, which may need a long rehabilitation period, will cap the Malaysian casino company's share-price recovery, the broker adds. UOB maintains hold on Genting Malaysia with an unchanged target price of RM3.01.