Tag Archives: Genting Malaysia
Malaysia – Revenues plunge by 57 per cent at Genting Malaysia
Genting Malaysia saw its fourth quarter revenue fall by 57 per cent to RM1,041.1m although it achieved positive adjusted EBITDA in FY20 despite ‘unprecedented challenges, anchored by the Malaysian operations.’ EBITDA came in at RM170.4m for Q4 despite the leisure and hospitality business operating at a reduced capacity amid the prevalence of the Coronavirus Disease…
Malaysia – Genting warns of further impact on full year earnings
Increases in COVID-19 infections will hamper Genting Malaysia’s fourth quarter revenue in Malaysia, the UK and the US after a recovery of sorts and a narrowing of losses in the three months to September 30. Local demand at its flagship Resorts World Genting in Malaysia helped drive revenue of RM1,416.9m, representing 54 per cent of…
US – Genting Malaysia to invest US$150m on getting Resorts World Catskills fully operational again
Genting Malaysia will inject US$150m into its recently bought North American operator Empire Resorts which will be used to help restart operations at Resorts World Catskills (RWC) in New York, and to fulfil short-term debt obligations. Genting Malaysia, who owns a 49 share in Empire, said: “The equity Injection will be funded through internally generated…
US – Genting steps up interest in Empire resorts despite bankruptcy rumours
Genting Malaysia has said it hasn’t been put off from a potential takeover of Empire Resorts’ Resorts World Catskills, following reports it was on the brink of bankruptcy. News reports out of the States have suggested that Empire will file for bankruptcy if it can’t restructure lending agreements on over US$400m in debt. Genting Malaysia…
Greece – Caesars and Genting rumoured to have run out of patience in Greece
Interest in operating the future casino at the former Hellenikon International Airport in Athens is reportedly subsiding for Caesars Entertainment and Genting Malaysia due to the continual delays to the project. Caesars is of course consumed by a $17.3bn takeover deal by Eldorado Resorts whose CEO Tom Reeg recently said that international expansion would have…
Malaysia – Troubled year for Genting Malaysia ends in first loss since 2000
With the cost of a failed partnership in Massachusetts coupled with falling revenues in Malaysia, the US, Bahamas, UK and Egypt weighing heavily on Genting Malaysia’s financial year, it was left to tax wrote-backs in Malaysia to save the operator’s year. It was the first time the mountain operator had posted a loss since 2000….
Malaysia – New attractions paying off as profit doubles for Genting Malaysia
Genting Malaysia has more than doubled its net profits this quarter, aided by visitations to Resorts World Genting (RWG) which saw revenue grow by 18 per cent. The Group’s second quarter total revenue increased by six per cent to RM2,422.1m while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 31 per cent…
Malaysia – Genting Malaysia doubles its net profit in the first quarter
Genting Malaysia has seen its net profits more than double the first quarter of 2017 with revenues of RM2,223.8m. The Malaysian leisure and hospitality business recorded higher revenue in 1Q17 mainly contributed by a better hold percentage for the mid to premium segment of the business even though business volumes were lower. Whilst the Genting…
