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Genting Malaysia revenue down 57.3% in 2020

Travel restrictions had a significant impact on Genting Malaysia's performance.
Travel restrictions had a significant impact on Genting Malaysia's performance.

The company saw a decline in EBITDA because of restrictions to contain the Covid-19 pandemic.

Malaysia.- Genting Malaysia saw EBITDA for full-year 2020 fall 69.1 per cent to MYR350.3m as revenue declined 57.3 per cent to MYR4.53bn.

For the fourth quarter, the company reported EBITDA of MYR170.4m (US$42.2m), down 45.2 per cent from the previous quarter.

The company’s leisure and hospitality segment in Malaysia registered a decline in revenue of 56 per cent year-on-year to RM3,133.3m, predominantly due to the three-month suspension of Resort World Genting’s operations from March 18 2020.

Genting Malaysia resumed operations at Resorts World Genting (RWG) and Resorts World Awana (RWA) in February 2021 after closure due to Covid-19 countermeasures.

The resorts currently operate with reduced capacity amid health and safety protocols imposed by Malaysian authorities.

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Genting Malaysia land-based casino