Genting Malaysia continues to feel the impact of the Covid-19 pandemic. but earnings should improve during the second quarter.<\/p>\n\n\n\n\n\n\n\n
Malaysia.- According to Nomura analysts Tushar Mohata and Alpa Aggarwal, Genting Malaysia will see earnings fall by 10 per cent in 2021<\/strong>.<\/p>\n\n\n\n They predict the casino operator will make a loss of around MYR184m (US$45m) because of restrictions to contain the Covid-19 pandemic<\/strong>. <\/p>\n\n\n\n According to the analysts, revenue will come in at around MYR6.32bn (US$1.54 bn)<\/strong>, down from an earlier estimate of MYR7.05bn (US$1.71bn).<\/p>\n\n\n\n Although earnings from Resorts World Genting (RWG) and Resorts World Awana (RWA) will be impacted in the first quarter by Covid-19 countermeasures, Nomura said earnings should improve in Q2 thanks to the roll-out of vaccinations<\/strong>.<\/p>\n\n\n\n Mohata and Aggarwal stated: “We believe that 1Q21 earnings from Malaysian operations will be impacted due to ~1 month closure of the resort due to the movement control order. However, given the reopening since then, and progressive ramp-up of vaccination, revenue\/EBITDA momentum should improve thereafter, in our view.<\/p>\n\n\n\n “There remains a possibility that any future wave of COVID-19 infections might impact visitation again later in 2021<\/strong>, but the risks of this happening will dissipate as vaccination ramps up in 2H21<\/strong>.”<\/p>\n\n\n\n The casino operator <\/strong>is cutting salaries to reduce costs<\/a><\/em> as the impact of the Covid-19 pandemic continues. With multiple lockdowns over the last year, revenue declined 57.3 per cent in 2020<\/a><\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":" Genting Malaysia continues to feel the impact of the Covid-19 pandemic. but earnings should improve during the second quarter.<\/p>\n","protected":false},"author":176,"featured_media":15963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Nomura analysts predict Genting Malaysia's 2021 earnings will decline by 10%, resulting in a MYR184m loss due to ongoing COVID-19 restrictions impacting Resorts World Genting and Awana. While Q1 earnings are affected by closures, a Q2 improvement is anticipated with vaccination roll-outs, though future infection waves remain a risk. The casino operator is implementing salary cuts to mitigate costs following a 57.3% revenue decline in 2020.","focusai_entities":"Genting Malaysia, Nomura, Tushar Mohata, Alpa Aggarwal, Resorts World Genting, Resorts World Awana","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Q2 Recovery Drivers","query":"What specific operational metrics or market indicators are expected to drive the anticipated Q2 2021 earnings improvement for Genting Malaysia, beyond vaccination rates?"},{"label":"Long-term Cost Structure","query":"How will Genting Malaysia's salary cuts and other cost-reduction initiatives impact its long-term operational expenditure and competitive positioning post-pandemic?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-15956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15956"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15956\/revisions"}],"predecessor-version":[{"id":15989,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15956\/revisions\/15989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15963"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Genting Malaysia cuts salaries<\/h2>\n\n\n\n