{"id":18457,"date":"2021-05-31T14:04:40","date_gmt":"2021-05-31T14:04:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18457"},"modified":"2026-04-23T19:04:39","modified_gmt":"2026-04-23T22:04:39","slug":"analysts-cut-revenue-forecast-for-genting-malaysia","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/analysts-cut-revenue-forecast-for-genting-malaysia","title":{"rendered":"Analysts cut revenue forecast for Genting Malaysia"},"content":{"rendered":"\n

Nomura has revised its forecast to US$1.26bn in revenue for 2021.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- According to Nomura analysts, Genting Malaysia’s revenue for 2021 could reach MYR5.25bn (US$1.26bn)<\/strong>, down from a previous forecast of MYR6.32bn (US$1.54bn).<\/p>\n\n\n\n

They have revised their forecast due to a new rise in Covid-19 cases<\/strong>, which has lead to the <\/strong>temporary closure of the Resorts World Genting\u2019s (RWG)<\/a> casino <\/strong>until further notice.<\/p>\n\n\n\n

Nomura predicts Genting Malaysia will post a net loss of MYR651m<\/strong> and adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) of MYR844m. In March, Nomura<\/a> had predicted a loss of around MYR184m (US$45m)<\/strong>. <\/p>\n\n\n\n

The Ministry of Health has recently reported a total of 6,999 new cases of Covid-19 in the last 24 hours<\/strong>.<\/p>\n\n\n\n

The government’s Movement Control Order 3.0<\/strong> orders people to work from home and limit the operating hours.<\/p>\n\n\n\n

Genting Malaysia<\/a> had been criticised by two opposition politicians for previously continuing to operate while the country was seeing a rise in Covid-19 cases. It has since closed its casino.<\/p>\n\n\n\n

The company said: \u201cWe will continue to fully adhere to the strict standard operating procedures <\/strong>issued by the Government throughout the resort and we seek our guests\u2019 cooperation to do the same.\u201d<\/p>\n\n\n\n

Genting Malaysia<\/strong> previously closed for two weeks in February <\/strong>due to a wave of Covid-19 infections.<\/p>\n\n\n\n

Genting Malaysia posts revenue of US$150.5m in Q1<\/strong><\/h2>\n\n\n\n

Genting Malaysia<\/a>‘s financial results for the first quarter of 2021 showed that revenue declined 68 per cent year-on-year, from MYR1.96bn to MYR623.3m (US$150.5m).<\/strong><\/p>\n\n\n\n

Revenue was also 40 per cent down<\/strong> when compared to the previous quarter.<\/p>\n\n\n\n

Genting Malaysia registered losses attributable to shareholders of MYR483.6m (US$116.7m)<\/strong>, while last year it reported a loss of MYR418m.<\/p>\n\n\n\n

Genting Malaysia blamed the Covid-19 pandemic <\/strong>for the results, stating: \u201cThe adverse impact to the group\u2019s earnings was primarily due to the temporary closure of the group\u2019s businesses in Malaysia and the UK.<\/p>\n\n\n\n

\u201cThe group\u2019s properties also operated at a reduced capacity <\/strong>in compliance with the respective government directives amid the pervasiveness of the Covid-19 pandemic.\u201d<\/p>\n\n\n\n

For the first quarter, the company reported negative EBITDA of MYR110.4m (US$27m) <\/strong>while in the last four months of 2020 Genting Malaysia<\/a> saw positive EBITDA of MYR170.4m (US$42.2m).<\/p>\n\n\n\n

Genting Malaysia gaming revenue was MYR490.2m, <\/strong>while the non-gaming segment revenue was MYR110.8m.<\/p>\n\n\n\n

In 2020, Genting Malaysia saw EBITDA fall 69.1 per cent to MYR350.3m<\/strong> as revenue declined 57.3 per cent to MYR4.53bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nomura has revised its forecast to US$1.26bn in revenue for 2021.<\/p>\n","protected":false},"author":176,"featured_media":18485,"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 has significantly downgraded Genting Malaysia's 2021 revenue forecast to US$1.26bn and projects a net loss, citing renewed COVID-19 outbreaks and the subsequent temporary closure of Resorts World Genting. This revision follows a challenging Q1 2021, where the operator reported a 68% year-on-year revenue decline and negative EBITDA due to pandemic-related operational restrictions across its Malaysian and UK properties.","focusai_entities":"Nomura, Genting Malaysia, Resorts World Genting, Ministry of Health, Opposition politicians","focusai_location":"Malaysia, UK","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Malaysia's Recovery Path","query":"What specific operational adjustments and market diversification strategies is Genting Malaysia implementing to mitigate the ongoing impact of pandemic-related closures and accelerate GGR recovery post-MCO 3.0?"},{"label":"Regional Market Impact","query":"How do Nomura's revised forecasts for Genting Malaysia reflect broader analyst sentiment regarding the recovery trajectory of integrated resorts across the APAC region, particularly concerning regulatory stability and consumer confidence?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-18457","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\/18457","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=18457"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18457\/revisions"}],"predecessor-version":[{"id":18487,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18457\/revisions\/18487"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18485"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}