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Malaysia – Genting Malaysia reverses a loss to generate a profit of US$33.8m

By - 23 November 2023

Genting Malaysia Berhad has generated a third quarter profit of US$33.8m, bouncing back from a US$1.75m loss from last year’s third quarter.

Genting said revenues improved in Malaysia, the UK and Egypt, and the US and Bahamas.

The operator said: “Genting Malaysia continues to drive productivity improvements to strengthen the resilience of the business amid an increasingly challenging operating environment.

“The Group will continue to place emphasis on operational excellence and effective cost management, positioning the Group to capitalise on the long-term growth trajectory in travel from the wider region. At the same time, the Group will optimise yield management and database marketing efforts to grow business volumes and visitation at RWG.”

Across the company’s casinos, group-wide revenue increased to US$579m, an increase of 19 per cent year-on-year. Resorts World Genting (RWG) in Malaysia saw a 20 per cent increase to US$35m. The company’s UK and Egypt casinos saw revenue increase by 26 per cent to US$106m whilst the US and Bahamas grew by 11 per cent to US$101m.

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