Tag Archives: Genting
Malaysia – Domestic tourism driving return to form for Genting in Malaysia
Nomura research analysts believe Genting Malaysia will see a bounce back in its EBITDA from the fourth quarter of 2020, thanks to a recovery in domestic tourism boosting visitation at its hilltop Malaysian casino Resorts World Genting. It highlights that Resorts World Genting is showing strong signs of recovery already with up to 40,000 visitors…
US – Resorts World Catskills set for September 9 reopening
Resorts World Catskills (RWC) will welcome back guests on Wednesday, September 9 at 10:00am, the company announced today. Resorts World Catskills will implement and execute their 21 Point Safety Plan and adhere to the State’s guidelines to ensure a safe reopening. “The Resorts World team has been anxiously awaiting the day when we can open…
Malaysia – Genting records a loss of RM900.42m for its second quarter
Genting Malaysia Bhd (GENM) generated a net loss of RM900.42m for its second quarter ending June 30, 2020, due to the closure of its resort casinos since mid-March due to the coronavirus pandemic, and redundancy costs of RM71.5m. The loss was more than double the RM417.96m net loss reported for the preceding quarter. Revenue came…
Singapore – No quick fix in sight as Resorts World Sentosa’s future ‘remains cloudy’
Union Gaming Security has said that Genting Singapore, operator of Singapore’s Resorts World Sentosa, is ‘still several quarters away’ from recovery after the effects of the coronavirus pandemic. The group suffered a net loss of $163.3m (US$119.1m) for the second quarter of 2020, the worst quarter since the opening of our Singapore Integrated Resorts, as…
US – Resorts World Las Vegas approved for underground tunnel
Resorts World Las Vegas, the $4.3bn resort scheduled to open in summer 2021, received an approval by the Clark County Commission necessary to move forward with constructing the resort’s passenger station and tunnel that will connect to the Las Vegas Convention Center campus via Elon Musk’s innovative transportation system. This new tunnel project will swiftly…
Singapore – Genting Singapore to delay Sentosa expansion after worst ever financials
Having reported its worst set of financials since 2010, with GGR at Resorts World Sentosa down 99 per cent, Genting Singapore is delaying its expansion plans as well as adapting them to the ‘new norm’ of operating. The group suffered a net loss of $163.3m (US$119.1m) for the second quarter of 2020, the worst quarter…
Singapore – Resorts World Sentosa signs up for Canon’s intelligent surveillance
Genting’s Resorts World Sentosa casino in Singapore has entered into an agreement with Japanese multinational corporation Canon that will establish a partnership relating to ‘cutting-edge technologies, products and solutions’ for a world-class IR. Included in the ‘basic agreement’ is the implementation of Canon’s intelligent surveillance, security and video solutions, which, in addition to the gaming…
UK – Genting could axe 1,642 across its 42 British casinos
Genting has confirmed that 1,642 members of its UK workforce could lose their jobs due to ‘unprecedented challenges and heavy losses’ caused by the coronavirus pandemic across its properties are at risk of redundancy as a result of disruption caused by novel coronavirus (Covid-19). British casinos still haven’t been allowed to reopen despite betting shops,…
US – Resorts World Las Vegas unveils LED screen over holiday weekend
Resorts World Las Vegas continues to build anticipation of the Strip’s newest integrated resort with the launch of its awaited 100,000-square-foot LED Screen located on the resort’s West Tower. On Saturday, July 4, the US $4.3bn integrated resort turned on one of the largest LED building displays in the U.S. and provided a first look…
