{"id":22754,"date":"2021-09-17T13:31:07","date_gmt":"2021-09-17T16:31:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22754"},"modified":"2026-04-23T15:34:31","modified_gmt":"2026-04-23T18:34:31","slug":"genting-malaysia-close-to-reopening","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-close-to-reopening","title":{"rendered":"Genting Malaysia close to reopening"},"content":{"rendered":"\n

Amid a decline in Covid-19 cases and an easing of restrictions, analysts expect Genting Malaysia’s Resorts World Genting to reopen soon.<\/p>\n\n\n\n\n\n\n\n

Malaysia.-\u00a0Genting Malaysia<\/strong>\u00a0could reopen the doors of its Resorts World Genting venue soon if the vaccination rates continue rising and authorities allow an easing of Covid-19 countermeasures.<\/p>\n\n\n\n

As number forecast operators (NFOs) were allowed to restart operations from September 15<\/strong>, Kay Hian, local brokerage house UOB, believes Resorts World Genting is likely to reopen soon too.<\/p>\n\n\n\n

He also expects\u00a0there will be a quick recovery due to suppressed demand<\/strong>, saying: “With the nation\u2019s encouraging vaccination milestones, we are optimistic that the NFOs will chart an uninterrupted swift earnings recovery and meaningful capital appreciation.”<\/p>\n\n\n\n

It’s expected\u00a0that an increase in vaccination rates will help the recovery of the sector\u00a0<\/strong>by the fourth quarter of the current year. For now, 54 per cent of the population have received two doses of a Covid-19 vaccine.<\/p>\n\n\n\n

Resorts World Genting<\/a>\u2018s casino has been closed since May. It closed all of its services <\/strong>in June, after Malaysian Prime Minister announced a nationwide Covid-19 lockdown.<\/strong> Until then, the resort\u2019s hotels, food and beverage outlets, shopping malls, retail outlets and other facilities remained open.<\/p>\n\n\n\n

Genting Malaysia posts US$82.8m loss for Q2<\/h2>\n\n\n\n

The casino operator has shared financial results for the second quarter of 2021, showing a\u00a0reduced loss of MYR348.1m (US$82.8m)<\/strong>\u00a0when compared to a loss of MYR900.4m in Q2 2020.<\/p>\n\n\n\n

For the second quarter of 2021, revenue grew 611.7 per cent year-on-year<\/strong> from MYR114.9m to MYR817.9m (US$195m). However, revenue for the first half was down 30.4 per cent<\/strong>, from MYR2.07bn to MYR1.44bn.<\/p>\n\n\n\n

Gaming revenue for the first half was MYR1.14bn, down 23.3 per cent year-on-year. The leisure and hospitality business saw revenue rise by MYR155.7m when compared to the previous year.<\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the second quarter was positive by MYR45.6m. In the second quarter of 2020, the company recorded an adjusted EBITDA loss of MYR486.2m. For the first six months of 2021, Genting Malaysia saw a negative EBITDA of MYR64.8m (US$42.2m)<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid a decline in Covid-19 cases and an easing of restrictions, analysts expect Genting Malaysia’s Resorts World Genting to reopen soon.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Genting Malaysia's Resorts World Genting is anticipated to reopen soon in Malaysia, driven by increasing vaccination rates and the easing of COVID-19 restrictions, following the restart of Number Forecast Operators. This comes as Genting Malaysia reported a reduced Q2 2021 loss of US$82.8m and significant revenue growth, despite a H1 revenue decline, with analysts projecting a swift earnings recovery due to suppressed demand.","focusai_entities":"Genting Malaysia, Resorts World Genting, UOB Kay Hian","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Malaysia Recovery Outlook","query":"What specific operational and marketing strategies is Genting Malaysia implementing to capitalize on the projected 'quick recovery due to suppressed demand' and accelerate NGR growth post-reopening?"},{"label":"Regulatory Impact Analysis","query":"How might the Malaysian government's future regulatory stance on public health measures or gaming licensing impact the long-term operational stability and expansion plans for integrated resorts like Resorts World Genting?"}],"footnotes":""},"categories":[28,16333],"tags":[19394,23907],"class_list":["post-22754","post","type-post","status-publish","format-standard","hentry","category-casino-news","category-south-east-asia-news","tag-genting-malaysia","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22754","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=22754"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22754\/revisions"}],"predecessor-version":[{"id":22759,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22754\/revisions\/22759"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}