casino resort has been out-of-action since mid-March<\/a><\/em><\/strong> due to the Covid-19 pandemic and as part of efforts to prevent the spread of the virus in the country.<\/p>\n\n\n\nThe update was included in Genting Malaysia\u2019s first-quarter results report which revealed a loss of MYR453.9 million (US$104.4 million).<\/p>\n\n\n\n
This is in comparison to the profit of MYR253.1 million (US$58.2million) recorded in 1Q19.<\/p>\n\n\n\n
The company also noted that the launch of its new outdoor theme park had been delayed due to the pandemic.<\/p>\n\n\n\n
“The Group is currently preparing for the resumption of operations and is focused on leveraging domestic demand to drive visitation and revenue.<\/p>\n\n\n\n
“As development works on the outdoor theme park (OTP) were affected [by the pandemic], the Group is working on a revised timeline for the completion and opening of the OTP.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Reopening confirmed in Genting Malaysia\u2019s first-quarter results report which revealed a loss of MYR453.9 million (US$104.4 million).<\/p>\n","protected":false},"author":2,"featured_media":6657,"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 reported a significant Q1 2020 net loss of MYR453.9 million, a stark contrast to the prior year's profit, primarily due to the COVID-19 pandemic. The company is preparing to resume operations at Resorts World Genting, focusing on domestic demand, while its outdoor theme park launch faces pandemic-induced delays.","focusai_entities":"Genting Malaysia, Resorts World Genting","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), marketing_crm (0.8), investor_analyst (1.0), supplier_vendor (0.7)","focusai_suggestions":[{"label":"Domestic Demand Strategy","query":"What specific marketing and operational initiatives will Genting Malaysia implement to effectively leverage domestic demand and mitigate the impact of reduced international tourism?"},{"label":"Theme Park Project Impact","query":"How will the revised timeline for the outdoor theme park impact its projected ROI and the overall integrated resort's competitive positioning upon launch?"}],"footnotes":""},"categories":[28,161,16333],"tags":[29,1076,226],"class_list":["post-6655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-daily-news","category-south-east-asia-news","tag-casino","tag-genting","tag-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6655","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=6655"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6655\/revisions"}],"predecessor-version":[{"id":777009475,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/6655\/revisions\/777009475"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/6657"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=6655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=6655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=6655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}