PAS vows to close Malaysia’s only casino
Resorts World Genting is Malaysia’s only casino.
Malaysia.- The future of Genting Malaysia’ Resorts World Genting, the only casino licensed to operate in Malaysia, could be at risk should Parti Islam SeMalaysia (PAS) come to power in the state of Pahang in the upcoming national elections.
According to Bloomberg, Andansura Rabu,PAS’s deputy commissioner for Pahang stated that if voters in the state wish to put an end to gambling, they should elect the Islamic party. PAS is largest party in the federal Parliament and holds four of Malaysia’s 13 states. It aims to win Pahang in the next national election, which must be held by February 17, 2028.
However, Rabu has acknowledged that shutting the casino in Genting Highlands might not be within the party’s power even if it wins because it’s the federal government that’s responsible for issuing casino and gaming permits.
For the second quarter of the year, Genting Malaysia posted a revenue of MYR2.6bn (US$619m), up 8 per cent year-on-year. 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.
In April, prime minister Anwar Ibrahim dismissed the idea of opening a casino at the US$100bn Forest City project.
See also: Genting Malaysia to offer US$525m in notes through subsidiaries
