Analysts Suggested Genting Sell Its Miami Real Estate
The firm may offload 16.5 acres to avoid a potential credit downgrade to junk status.
Updated on Oct. 14, 2026 in Casino
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Genting could sell its 16.5-acre Miami waterfront holdings to improve its financial standing. The move is being considered as the company works to avoid a credit rating downgrade to junk status.
Why it matters
A sale of the high-profile property would allow the company to reduce its leverage and address an intensive capital expenditure pipeline. The future of this significant downtown site remains uncertain while the company faces a negative outlook from credit agencies.
CreditSights identified a $1 billion target sale price for the 16.5-acre site to improve the firm's leverage metrics, down from an asking price of $1.23 billion in 2023. Genting currently holds a BBB- rating from S&P Global, which maintains a negative outlook.
The players
Genting Bhd
A global gaming company that owns Resorts World properties and 16.5 acres of land in Miami.
S&P Global Ratings
A financial services company that assigns and monitors corporate credit ratings.
CreditSights
An independent credit research firm that provided the recommendation regarding Genting asset sales.
The details
Genting recently completed a $306 million rights issue but still faces pressure to improve its financial ratios. CreditSights suggests that offloading non-core assets like the Miami property could help stabilize the company's BBB- rating. The firm previously attempted to sell the same land to SmartCity Miami in 2023, but that deal ultimately collapsed.
Timeline
2023: Genting attempted to sell the Miami property for $1.23 billion.
September 2026: S&P Global published a report regarding the company's credit metrics.
October 14, 2026: CreditSights published its report suggesting an asset sale.
Beyond the 305
This suggestion from analysts follows the 2023 collapsed land sale deal with SmartCity Miami. The failed attempt highlights the long-standing challenges Genting has faced in offloading its significant downtown acreage.
The potential sale represents a shift for a major piece of undeveloped downtown real estate that has sat largely dormant for years. Residents should watch for any future public filings or land use applications that may accompany a change in ownership.
The takeaway
The company is under pressure to improve its financial health to maintain its current credit status. Readers should monitor S&P Global updates regarding Genting's rating to gauge whether the firm will prioritize a sale of the Miami property.
Further reading
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Source note: This article includes information reported by Casino.
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Is it a good idea for large corporations to sell land to pay down debt?
