{"id":777008580,"date":"2023-08-25T06:40:18","date_gmt":"2023-08-25T09:40:18","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777008580"},"modified":"2026-04-22T18:41:26","modified_gmt":"2026-04-22T21:41:26","slug":"genting-malaysia-revenue-up-14-in-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-revenue-up-14-in-q2","title":{"rendered":"Genting Malaysia revenue up 14% in Q2"},"content":{"rendered":"\n<p>The casino operator has posted a profit of MYR30.3m (US$6.5m) for the second quarter of the year.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Malaysia.-\u00a0<strong>Genting Malaysia\u00a0<\/strong>has shared its financial results for the second quarter of the year. It&#8217;s posted revenue of MYR2.47bn (US$532m), up 14 per cent in year-on-year terms. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 28 per cent to MYR447.9m (US$96.4m).<\/p>\n\n\n\n<p>The company posted<strong> a profit of MYR30.3m (US$6.5m)<\/strong>, compared to a loss of MYR42.3m (US$9.1m) in the prior year period and a loss of MYR45.4m (US$9.8m)\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-revenue-up-32-7-in-q1\" target=\"_blank\">in the prior quarter<\/a>. <strong>Resorts World Genting (RWG) <\/strong>revenue rose 17 per cent to MYR1.53bn (US$329m). Its EBITDA rose 16 per  cent to MYR532.3m (US$115m). <\/p>\n\n\n\n<p>For the first six months of 2023, Genting Malaysia recorded a 22 per cent increase in revenue to MYR4.76bn (US$1.02bn). Adjusted EBITDA improved marginally to MYR1.04bn (US$224m).<\/p>\n\n\n\n<p>As for the following months, the company said it remains focused on driving visitation, operational efficiencies and effective cost management at RWG.\u00a0It said it will &#8220;leverage its integrated resort offerings to capitalise on the increasing inbound tourist arrivals to Malaysia to drive incremental foreign visitation to RWG.&#8221;<\/p>\n\n\n\n<p><strong>See also:<\/strong>&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-revenue-up-32-7-in-q1\" rel=\"noreferrer noopener\">Genting revenue in Malaysia and Singapore to reach 85-90% of 2019 levels<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The casino operator has posted a profit of MYR30.3m (US$6.5m) for the second quarter of the year.<\/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 a Q2 2023 profit of MYR30.3m (US$6.5m) on MYR2.47bn (US$532m) revenue, a 14% YoY increase, reversing prior period losses. Despite a 28% decline in adjusted EBITDA, the company remains focused on driving visitation, operational efficiencies, and cost management at Resorts World Genting. This strategy aims to capitalise on increasing inbound tourism to Malaysia.","focusai_entities":"Genting Malaysia, Resorts World Genting","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"EBITDA decline drivers","query":"What specific operational or market factors contributed to the 28% year-on-year decline in adjusted EBITDA despite revenue growth, and what mitigation strategies are in place?"},{"label":"Tourism impact forecast","query":"What is the projected impact of increasing inbound tourist arrivals on Resorts World Genting's GGR and NGR for the latter half of 2023, and how will this influence capital expenditure?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-777008580","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\/777008580","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=777008580"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008580\/revisions"}],"predecessor-version":[{"id":777008609,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008580\/revisions\/777008609"}],"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=777008580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}