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Tag Archives: Malaysia

Malaysia – Resorts World Genting to break even by end of the year

Maybank Investment Bank believes that Genting Malaysia’s Resorts World Genting could breakeven by the fourth quarter of the year having reopened last week, and that re-COVID-19 levels will return next year. The casino hasn’t broken even ifor the duration of the pandemic. Maybank Investment Bank analyst Samuel Yin Shao Yang said: “We are optimistic that…

Malaysia – Resorts World Genting could be closed for another three months

Resorts World Genting, the mountaintop Malaysian casino will stay shut for another quarter of a year with Maybank Investment Bank earmarking a November reopening when the national vaccination level reaches 80 per cent. Maybank IB analyst Samuel Yin Shao Yang believes it will take another three months for the vaccination levels to reach that point….

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…

Malaysia – Maybank analyst slashes forecasts for Genting Malaysia recovery as COVID cases spike

A recent rise in COVID-19 cases in Malaysia has seen Maybank Research analyst Samuel Yin Shao Yang slash his own estimates which now pitch Genting Malaysia at operating at a loss of MYR384.8m (US$84.6m) in 2021. He has slashed 2022 profit guidance by 17 per cent to MYR1.03bn (US$249.9m) and 2023 estimate by four per…

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 – Sportradar pens distribution partnership with Asian Football Confederation

The Asian Football Confederation (AFC) has announced an official partnership with Sportradar for worldwide data and associated media rights for major AFC competitions for the cycles 2021-2024 and 2025-2028. Under the agreement, Sportradar becomes the official video and data distribution partner for major AFC national team and club competitions including the AFC Asian Cup China…

Malaysia – Attendance at Genting Malaysia to be hit with Movement Control Order

Analytical company Maybank Research has slashed its Earnings Per Share (EPS) prediction for Resorts World Genting in Malaysia by 58 per cent in 2021 on the belief that footfall will be affected by a new Movement Control Order (MCO) which will restrict six Malaysian states. Whilst only lasting two weeks from January 13 to 26,…

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…

Malaysia – Alphonic Technology signs service partnership with ITL in Southeast Asia

Innovative Technology has established a service partnership with Alphonic Technology, a trusted provider of reliable automated cash handling solutions based in Kuala Lumpur, Malaysia. Alphonic Technology service and repair cash validation machines for various industries such as Amusement, Transportation, Gaming and Retail & Kiosk. Kravitz Liew, Business Development Manager for Southeast Asia, said: “We have…