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Tag Archives: Malaysia

Malaysia: tax, licence and duty hikes add to operator pressure

Malaysia is one of the most financially robust regions in Southeast Asia after becoming a free nation in the 1950s. With a large Muslim religion base there are strict gambling laws and the Common Gaming Houses Act and the Betting Act of 1953 banned betting houses. Lotteries are permitted and the Racing Act of 1951…

Malaysia – Maybank predicts 70 per cent fall in EBIDTA for Genting Bhd

Maybank IR Research analyst Samuel Yin Shao Yang believes that the fall off in visitation to Resorts World Sentosa and Resorts World Genting could hit Genting Bhd’s EBIDTA by up to 70 per cent in 2020. The Singapore and Malaysia properties generate between 80 per cent and 90 per cent of Genting Bhd group earnings…

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…

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…

Malaysia – Malayisa looks to tempt online companies from the Philippines

Malaysia is set to offer incentives to online operators looking to relocate from the Philippines. Philippine Amusement and Gaming Corp (PAGCOR) Chair Andrea Domingo to the Office of the President, said Malaysia is offering a ten-year tax moratorium on condition that at least 30 per cent of the work force are from the country. Several…

Malaysia – RGB reports a 47 per cent fall in profit

Malaysia gaming equipment supplier RGB International saw a 47 per cent fall in profit to MYR3.7m (US$863,500) for the three months to 31 March 2020, due in main to the coronavirus pandemic. The company manufacturers electronic gaming mac. It has staff in Malaysia, Cambodia, the Philippines, Macau, Singapore, Lao, Vietnam, Timor-Leste and Nepal. The fall…

Malaysia – Resorts World Genting to reopen Malaysian resort casino

Resorts World Genting (RWG), the mountain top resort casino in Malaysia, will reopen at 10am on Friday, 19 June 2020 with enhanced safety measures in place to ensure the health and safety of all guests and employees. Due to limited capacity, entry into SkyCasino at SkyAvenue and Genting Club at Genting Grand Hotel will be…

Malaysia – New Business Development Manager for ITL in South East Asia

Innovative Technology (ITL) are delighted to welcome Kravitz Liew as Business Development Manager for Southeast Asia. Mr. Liew will be based in Malaysia and is responsible for all ITL sales activities in the growing SE Asia region. Welcoming Mr. Liew to the organisation, Marcus Tiedt, Sales & Marketing Director for ITL said, “Kravitz joined us…

Malaysia – LeTou sign partnership agreement with esports company Fnatic

Asian gambling company LeTou have signed a partnership agreement with esports giant Fnatic to support their Dota 2 team based out of Kuala Lumpur. LeTou will serve as the main sponsor of the Fnatic team for Dota 2, the multiplayer online battle arena game that sees teams compete against each other in a fantasy environment….