{"id":30693,"date":"2022-06-13T02:03:33","date_gmt":"2022-06-13T05:03:33","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30693"},"modified":"2026-04-23T07:53:11","modified_gmt":"2026-04-23T10:53:11","slug":"malaysia-casino-investors-wealth-declined-in-the-last-year","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/malaysia-casino-investors-wealth-declined-in-the-last-year","title":{"rendered":"Malaysia casino investors\u2019 wealth declined in the last year"},"content":{"rendered":"\n

Forbes has revealed that the wealth of the founders of NagaCorp Ltd and Genting group has decreased over the past 12 months.<\/p>\n\n\n\n\n\n\n\n

Malaysia.- Forbes has featured two major casino investors in its Malaysia\u2019s 50 Richest list but both saw their net worth fall due to the impact of the Covid-19 pandemic in the past year. The wealth of Chen Lip Keong, founder of NagaCorp Ltd fell 41.3 per cent, while the wealth of Lim Kok Thay, founder of Genting Group, fell 13.0 per cent.<\/p>\n\n\n\n

Keong now sits at number seven on the list, with an estimated wealth of US$2.7bn. Thay is at number nine with wealth of USUS$2.35bn.<\/p>\n\n\n\n

In Thay’s case, his company has been in crisis since in January Genting Hong Kong Ltd\u00a0filed for liquidation<\/a>\u00a0after a German court rejected a request to release US$88m for its German shipyard unit MV Werften.<\/p>\n\n\n\n

Nevertheless, Genting Malaysia<\/strong>\u00a0reported that Q1 revenue was up 176.2 per cent year-on-year to MYR1.72bn (US$391.3m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was MYR414.4m (US$94.2m), compared with a loss of MYR110.4m a year before.\u00a0<\/p>\n\n\n\n

As regards\u00a0NagaCorp<\/a>, the company posted gross gaming revenue of US$109.9m for the first quarter. That’s a decline of 13.7 per cent when compared to Q1 in 2021. However new gaming revenue was up at US$1.08m.<\/p>\n\n\n\n

NagaCorp reported earnings before interest, tax, depreciation and amortization (EBITDA) of US$60.5m, up\u00a083.3 per cent quarter-on-quarter<\/strong>\u00a0and 57.4 per cent year-on-year. Mass-market table games saw average daily net gaming revenue of US$572,000 and mass-market electronic gaming machines US$280,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

Forbes has revealed that the wealth of the founders of NagaCorp Ltd and Genting group has decreased over the past 12 months.<\/p>\n","protected":false},"author":176,"featured_media":16674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The article details a significant decline in the net worth of NagaCorp Ltd's founder, Chen Lip Keong, and Genting Group's founder, Lim Kok Thay, primarily due to the COVID-19 pandemic's impact. Despite these personal wealth reductions, Genting Malaysia reported robust Q1 revenue and EBITDA recovery, while NagaCorp experienced a GGR decline but strong EBITDA growth, alongside Genting Hong Kong's liquidation filing.","focusai_entities":"Forbes, NagaCorp Ltd, Genting Group, Chen Lip Keong, Lim Kok Thay, Genting Hong Kong Ltd, MV Werften, Genting Malaysia","focusai_location":"Malaysia, Germany","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 Hong Kong Impact","query":"What are the broader implications of Genting Hong Kong's liquidation on the Genting Group's overall capital structure and future expansion strategies in the integrated resort sector?"},{"label":"NagaCorp Mass Market Strategy","query":"Given NagaCorp's reported mass-market NGR performance, what specific operational adjustments or marketing initiatives are driving this segment's growth amidst a decline in overall GGR?"}],"footnotes":""},"categories":[157,16333],"tags":[19394,23906,2336],"class_list":["post-30693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-malaysia","tag-macau-casinos","tag-nagacorp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30693","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=30693"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30693\/revisions"}],"predecessor-version":[{"id":30737,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30693\/revisions\/30737"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16674"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}