Additional revenue from Stratford casino helps boost Q4 revenues for Genting Malaysia
UK and Egypt revenues up by 17 per cent for Genting
The addition of the newly acquired Genting Casino Stratford, formerly Aspers Stratford, has helped boost fourth quarter revenues at its owners Genting Malaysia, by ten per cent with Q4 revenue coming in at RM3,012.8m.
The inclusion of one of the UK’s biggest gaming floors, which Genting bought for £27m, helped drive a massive improvement in the company’s UK and Egypt segment, with revenues surging by 17 per cent to
RM523m, while adjusted EBITDA increased by 99 per cent to RM110.1m.
Genting said of its UK activity: “In the UK, the group has rolled out additional gaming machines across its properties following recent legislative reforms which permit increased gaming machine allocations in casinos. The group will also be embarking on the redevelopment of the London Trocadero at Piccadilly Circus into a three-storey casino and entertainment venue, broadening its footprint in a prime central London location. The Group will continue to invest in product and service enhancements to improve customer experience and strengthen competitiveness, while maintaining a disciplined approach to cost management and operational efficiency amid a challenging operating environment.”
The Trocadero project is huge for the UK, but is somewhat dwarfed by the group’s ambitions in New York, where Resorts World New York City was awarded a full commercial casino licence by the New York State Gaming Commission, marking a key milestone in the Group’s expansion in the US.
Genting said: “The approval enables RWNYC to transition from a racino into a fully integrated commercial casino, strengthening the Group’s presence in one of the world’s largest gaming and entertainment markets. The initial phase of the development envisages an expanded gaming floor alongside enhanced entertainment, hospitality and supporting amenities, positioning RWNYC as a comprehensive leisure destination for the region.”
In the US and the Bahamas, revenue increased by 55 per cent to RM714.4m, mainly attributable to the consolidation of Empire Resorts. In Las Vegas, Genting has enlisted two former Nevada gaming regulators who have now been licensed as managers and directors of Resorts World Las Vegas,.
Former Nevada Governor Brian Sandoval and former Nevada Gaming Control Board Chairman A.G. Burnett were approved for licensing.
Genting said: “In the Bahamas, the Group continues to build and strengthen relationships with international cruise operators to increase port calls at Resorts World Bimini. An international commercial flight route has recently commenced operations, the newest service to Bimini Island, and is expected to enhance connectivity to the island. The Group will continue to focus on marketing and promotional initiatives to drive visitation growth at the resort. At the same time, the Group remains committed to enhancing efficiencies and maintaining prudent financial management to strengthen operational performance and improve profitability.
In Malaysia, the group’s operations recorded a three per cent decline in revenue to RM1,733.8m, while adjusted EBITDA decreased by 21 per cent to RM386.8 million. The softer performance was mainly due to lower overall business volumes in the gaming segment at Resorts World Genting and certain one-off expenses relating to payroll and contractual obligations.
Genting said: “In Malaysia, the economy is expected to maintain its growth momentum, underpinned by domestic demand, investments in both private and public sectors, exports and higher tourism spend. However, the outlook remains subject to uncertainties, particularly surrounding global developments. Cross-border tourism is expected to remain positive, driven by improving consumer demand, enhanced air connectivity and growing outbound travel from emerging markets, particularly within Asia. The regional gaming market is expected to remain stable, supported by tourism-related demand. The Group is cautiously optimistic of the near-term prospects of the leisure and hospitality industry and remains positive in the longer-term.”
It is advancing several initiatives to drive visitation growth at Resorts World Genting in line with Visit Malaysia Year 2026. Key enhancements include the planned launch of Eufloria, a new nature-themed attraction at the mid-hill, and the upcoming completion of the revamped 18-hole golf course at Resorts World Awana, further strengthening RWG’s position as a leading regional leisure and entertainment
destination.
In the Bahamas, the Group continues to build and strengthen relationships with international cruise operators to
increase port calls at Resorts World Bimini (“RW Bimini”). An international commercial flight route has recently
commenced operations, the newest service to Bimini Island, and is expected to enhance connectivity to the
island. The Group will continue to focus on marketing and promotional initiatives to drive visitation growth at the
resort. At the same time, the Group remains committed to enhancing efficiencies and maintaining prudent
financial management to strengthen operational performance and improve profitability.
