Genting Malaysia revenue up 8%

The casino operator has posted revenue of MYR2.6bn (US$619m) for the second quarter of the year.

Malaysia.- Genting Malaysia has shared its financial results for the second quarter of the year. Revenue was up 8 per cent year-on-year to MYR2.6bn (US$619m).

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 72 per cent year-on-year to MYR770.4m (US$179m) and the company’s profit more than doubled to MYR62.8m (US$14.6m).

The leisure and hospitality sector in Malaysia, which includes casino operations, generated revenue of MYR1.61bn (US$376m), up 5 per cent compared to last year. This was predominantly due to a higher volume of business from Resorts World Genting (RWG)’s gaming and non-gaming segments.

The company said: “In Malaysia, the group remains focused on leveraging its integrated resort offerings to capitalise on the ongoing recovery in regional travel. The group’s investment in new and refreshed products and lifestyle experiences is part of the group’s ongoing strategy to strengthen its position as a premier tourism destination and drive further growth.

“Additionally, the group is enhancing its digital platforms and expanding strategic partnerships to better meet evolving customer needs and preferences. The group remains committed to maintaining cost discipline as it navigates challenges in the operating environment.”

See also: Genting Malaysia unit redeems US$276.9m in medium-term notes