Genting Malaysia revenue up 14% in Q2

The casino operator has posted a profit of MYR30.3m (US$6.5m) for the second quarter of the year.

Malaysia.- Genting Malaysia has shared its financial results for the second quarter of the year. It’s posted revenue of MYR2.47bn (US$532m), up 14 per cent in year-on-year terms. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 28 per cent to MYR447.9m (US$96.4m).

The company posted a profit of MYR30.3m (US$6.5m), compared to a loss of MYR42.3m (US$9.1m) in the prior year period and a loss of MYR45.4m (US$9.8m) in the prior quarter. Resorts World Genting (RWG) revenue rose 17 per cent to MYR1.53bn (US$329m). Its EBITDA rose 16 per cent to MYR532.3m (US$115m).

For the first six months of 2023, Genting Malaysia recorded a 22 per cent increase in revenue to MYR4.76bn (US$1.02bn). Adjusted EBITDA improved marginally to MYR1.04bn (US$224m).

As for the following months, the company said it remains focused on driving visitation, operational efficiencies and effective cost management at RWG. It said it will “leverage its integrated resort offerings to capitalise on the increasing inbound tourist arrivals to Malaysia to drive incremental foreign visitation to RWG.”

See also: Genting revenue in Malaysia and Singapore to reach 85-90% of 2019 levels