Genting SkyWorlds<\/a> theme park in February 2022 also contributed to an increase in non-gaming revenue. <\/p>\n\n\n\nThe United States and the Bahamas contributed increased revenue for fourth quarter. The revenue from leisure and hospitality businesses in these countries has increased by MYR109.0m, largely due to higher contributions from non-gaming revenue. <\/p>\n\n\n\n
However, not all regions generated an increase in revenue for the company. Revenue from the United Kingdom and Egypt was down 23 per cent to MYR98.1m<\/strong>. This is attributed to the impact of inflation and weaker consumer confidence. There was also a year-on-year decrease in revenue from the property segment due to proceeds from the sale of land in Malaysia in the fourth quarter of 2021.<\/p>\n\n\n\nGroup earnings before interest, taxation, depreciation and amortisation (EBITDA) decreased 35.9 per cent from the prior-year quarter to MYR472.9m. Quarter-on-quarter, EBITDA was down 22.4 per cent. Loss before taxation was MYR372.4m<\/strong> compared with a profit of MYR162.2m the previous year. <\/p>\n\n\n\nThe company’s revenue for full-year 2022 more than doubled from the previous year, reaching MYR8.6bn<\/strong>. EBITDA improved almost threefold to MYR2.12bn and the loss attributable to shareholders decreased by 45.1 per cent year-on-year to MYR520.0m.<\/p>\n\n\n\nThe company said: “The group will continue to focus on ramping up its operations at RWG to pre-pandemic capacity whilst building on its service delivery and product offerings to enhance the quality of guest experience. <\/p>\n\n\n\n
“The group will also leverage its quality assets to grow key business segments and attract incremental foreign visitation to the resort given the anticipated improvement in the pace of recovery in leisure travel following the recent relaxation of travel restrictions in the wider region.” <\/p>\n","protected":false},"excerpt":{"rendered":"
Genting Malaysia\u2019s revenue reached MYR2.43bn, up 7 per cent quarter-on-quarter.<\/p>\n","protected":false},"author":176,"featured_media":18062,"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 Q4 2022 revenue of MYR2.43bn, a 7% QoQ and 29% YoY increase, primarily driven by the recovery of its Malaysian leisure and hospitality segment following eased COVID-19 restrictions and the contribution from Genting SkyWorlds. Concurrently, the US and Bahamas operations saw increased non-gaming revenue. However, the group experienced a 35.9% YoY decline in EBITDA to MYR472.9m and a loss before taxation of MYR372.4m, largely impacted by a 23% revenue decrease in the UK and Egypt due to inflation and subdued consumer confidence. For the full year 2022, revenue more than doubled to MYR8.6bn, with EBITDA tripling to MYR2.12bn, as the company outlines plans to optimize Resorts World Genting operations and enhance foreign visitation.","focusai_entities":"Genting Malaysia, Genting SkyWorlds, Resorts World Genting","focusai_location":"Malaysia, United States, Bahamas, United Kingdom, Egypt","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), product_ux (0.7), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q4 Revenue Drivers?","query":"What specific non-gaming revenue diversification strategies and regional market penetration efforts underpinned Genting Malaysia's Q4 2022 revenue growth, particularly within the US and Bahamas leisure verticals?"},{"label":"EBITDA Performance Analysis?","query":"Beyond macro-economic factors such as inflation, what operational leverage challenges or strategic investment outlays contributed to Genting Malaysia's significant quarter-on-quarter and year-on-year EBITDA contraction in Q4 2022?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-777002744","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\/777002744","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=777002744"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002744\/revisions"}],"predecessor-version":[{"id":777002780,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777002744\/revisions\/777002780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18062"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777002744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777002744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777002744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}