Genting Malaysia revenue to rise 1.7% this year, analysts say
The casino operator is expected to see minimal revenue growth in 2024.
Malaysia.- Maybank Investment Bank has projected a 1.7 per cent increase in revenue for Genting Malaysia in 2024. Analysts attributed the relatively low growth to the closure of two mass-market gaming floors at Resorts World Genting (RWG), which could last for nine months.
The closure, initiated on February 28, affects the Circus Palace and Hollywood mass gaming areas at Genting Highlands near Kuala Lumpur. Maybank analyst Samuel Yin Shao Yang estimates a 19 per cent reduction in full-year mass market gross gaming revenue.
Maybank expects the revamped gaming spaces to reopen by year-end. Analysts also maintained optimistic revenue forecasts for 2025 and 2026, citing historical growth patterns following the gaming floor expansions. Maybank anticipates full-year revenue to reach MYR10.36bn (US$2.20bn). In 2023, the company’s revenue increased by 18 per cent to MYR10.19bn (US$2.15bn) while adjusted EBITDA grew by 24 per cent to MYR2.63bn (US$554m).
