{"id":23996,"date":"2021-10-28T11:57:19","date_gmt":"2021-10-28T14:57:19","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23996"},"modified":"2026-04-23T14:21:24","modified_gmt":"2026-04-23T17:21:24","slug":"genting-skyworlds-to-bring-higher-visitor-arrivals-to-rwg-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-skyworlds-to-bring-higher-visitor-arrivals-to-rwg-analysts-say","title":{"rendered":"Genting SkyWorlds to bring higher visitor arrivals to RWG, analysts say"},"content":{"rendered":"\n

Analysts at RHB Research predicted the reopening of Genting SkyWorlds, Genting Malaysia\u2019s new outdoor theme park will lead to higher visitor arrivals to the IR.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Since Genting Malaysia\u2019s Resorts World Genting <\/strong>was allowed to reopen<\/a> on a limited basis, visitor levels started to increase and although the figure is still far away from pre-pandemic levels, the company is confident it will continue increasing as the vaccination rate continues to rise. <\/p>\n\n\n\n

Analysts at RHB Research visited the venue and referred to the opening of Genting SkyWorlds as a possible “crowd-puller for other RWG facilities<\/strong>, potentially leading to higher-than-expected visitor arrivals.\u201c <\/p>\n\n\n\n

According to The Star, the outdoor theme park could be allowed to open its doors in November, “just in time to capture the pent-up demand post reopening in the run-up to the year-end holidays.”<\/p>\n\n\n\n

The casino operator had closed all of its services <\/strong>in June after the 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<\/a> reported gaming revenue for the first half of MYR1.14bn, down 23.3 per cent year-on-year due to the closure of its venue. Revenue was up by MYR155.7m when compared to the previous year.<\/p>\n\n\n\n

Genting outlook could be upgraded in six to nine months<\/h2>\n\n\n\n

Fitch Ratings<\/a> has kept Genting\u2019s credit outlook at \u201cBBB-\u201d <\/strong>due to uncertainty surrounding the Covid-19 pandemic but says that could change in the next six to nine months<\/strong> if vaccination rates in key markets remain on track.<\/p>\n\n\n\n

According to Fitch, Genting is expected to reduce its leverage level from six times this year<\/strong> to four times in 2022 and three times in 2023. It is also expected that comprehensive EBITDA will reach 80 per cent of 2019 levels in 2022 and full recovery in 2023. <\/p>\n","protected":false},"excerpt":{"rendered":"

Analysts at RHB Research predicted the reopening of Genting SkyWorlds, Genting Malaysia\u2019s new outdoor theme park will lead to higher visitor arrivals to the IR.<\/p>\n","protected":false},"author":176,"featured_media":24013,"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 projects enhanced visitor traffic and financial recuperation at its Resorts World Genting integrated resort, primarily propelled by escalating vaccination rates and the impending launch of Genting SkyWorlds. Despite a H1 gaming revenue contraction, analyst consensus forecasts significant leverage reduction and EBITDA recovery by 2023, potentially catalyzing an upgrade to its Fitch Ratings credit outlook.","focusai_entities":"Genting SkyWorlds, Genting Malaysia, RHB Research, Resorts World Genting, The Star, Fitch Ratings","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.92), investor_analyst (0.98), journalist_researcher (0.9)","focusai_suggestions":[{"label":"SkyWorlds Impact on GGR?","query":"What is the projected incremental Gross Gaming Revenue (GGR) contribution from the Genting SkyWorlds theme park, and how will it influence the overall Integrated Resort's profitability margins?"},{"label":"Fitch Rating Upgrade Criteria?","query":"Beyond vaccination rates, what specific operational and financial performance metrics would Fitch Ratings require Genting Malaysia to achieve to warrant an upgrade from its current 'BBB-' credit outlook?"}],"footnotes":""},"categories":[157,16333],"tags":[19394,23632],"class_list":["post-23996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-malaysia","tag-integrated-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23996","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=23996"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23996\/revisions"}],"predecessor-version":[{"id":24014,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23996\/revisions\/24014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24013"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}