Tag Archives: Genting Malaysia
Genting Malaysia takes full control of Resorts World Catskills in New York
Genting Malaysia has confirmed it will buy the remaining 10 per cent share in Empire Resorts, which owns Resorts World Catskills in New York, Resorts World Hudson Valley and Resorts World Bet, from Lim Kok Thay for US$41m. Lim is Chairman and CEO of Genting Berhad and also Deputy Chairman and CEO of Genting Malaysia….
UK and Egypt offset Resorts World Las Vegas’ worst quarter for Genting Malaysia
Genting Malaysia Group generated revenue in its third quarter of RM2,749.1m, an increase of RM39.3m compared to the same period last year but Resorts World Las Vegas experienced its worst quarterly results in the past two years with revenue dropping to US$177m from US$218m. Hotel occupancy at the Las Vegas resort was down to 91…
Malaysia – Genting Malaysia moves back into profit but revenues still lag 2019’s figures
Genting Malaysia, operator of Resorts World Genting in the Malaysia highlnads, has seen a 33 per cent year-on-year lift in revenue for the three months to 31 March 2023, although quarter by quarter they fell due to a slower than anticipated return of international players. The operator also reported a pre-tax profit of RM41.3m, compared…
Malaysia – Revenues at Resorts World Genting in Malaysia up 65 per cent but Genting still reports loss
Despite revenues being 29 per cent up in the three months to December 31 2022, Genting Malaysia Berhad announced a loss of US$106m due to a series of one-off expenses. Promisingly, group revenues came in at US$548m with its flagship casino Resorts World Genting in Malaysia up 65 per cent to US$359m. The operator said:…
Malaysia – Nomura believes investors will be ‘relieved’ Genting’s Macau dream didn’t happen
Analytical group Nomura believes investors in Genting Malaysia will ‘likely feel relieved’ that the operator was overlooked in the tender process for one of Macau’s six gaming licences. Nomura’s Tushar Mohata and Alpa Aggarwal said: “There were two concerns if Genting Malaysia had won the bid; the risk of a low ROIC investment in Macau…
China – Genting Malaysia launches speculative bid to replace one of Macau’s six casino licence owners
With a short statement, Genting Malaysia has confirmed it will be the seventh bidder to submit a bid in the licence retendering but is notably the first that doesn’t already operate in Macau. Genting stated: “The Macau Special Administrative Region has called for a tender for the concessions to operate casino games of fortune pursuant…
Malaysia – Genting Malaysia Berhad lags in third quarter by 42 per cent
The reopening of Resorts World Genting (RWG) in Malaysia since September 30 2021 has been ‘well received’ although owner Genting Malaysia Berhad (Group) saw its third quarter revenues slide by 42 per cent to RM826.3m. Despite the impact of the Coronavirus Disease 2019 (COVID-19) disruptions on the Group’s operations, the Group recorded adjusted earnings before…
US – Genting to invest a further $150m into Empire Resorts
Empire Resorts, the operator of New York’s Resorts World Catskills and Monticello Raceway, is to get another cash injection of $150m from its parent company Genting Malaysia to aid its long-term financing plan. Genting Malaysia has invested various amounts since August 2019, when it bought a 49 per cent interest in Empire with the total now…
Malaysia – Maybank slashes Genting Malaysia profit guide
Losses at Genting Malaysia’s flagship IR Resorts World Genting (RWG) could plunge by 76 per cent to reach MYR676m (US$164m) with attendance likely to drop by 29 per cent through continued closure from the coronavirus pandemic. Maybank Research has revised its previous estimate of 12m visitors in 2021 to just 8.5m with the casino located…
