{"id":777013614,"date":"2024-03-01T08:35:30","date_gmt":"2024-03-01T11:35:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013614"},"modified":"2026-04-22T12:27:59","modified_gmt":"2026-04-22T15:27:59","slug":"genting-malaysia-revenue-up-12-in-q4","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-malaysia-revenue-up-12-in-q4","title":{"rendered":"Genting Malaysia revenue up 12% in Q4"},"content":{"rendered":"\n

Genting Malaysia\u2019s revenue reached MYR2.72bn (US$573m) in the fourth quarter.<\/p>\n\n\n\n\n\n\n\n

Malaysia.-\u00a0Genting Malaysia\u00a0<\/strong>has shared its financial results for the fourth quarter of 2023. Revenue was MYR2.72bn (US$573m), up 12 per cent when compared to the previous year and\u00a0flat sequentially<\/a>.<\/p>\n\n\n\n

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 78 per cent to MYR843.9m (US$178m). The company reported a profit before taxation (PBT) of MYR294.2m and\u00a0a net profit of MYR217.6m\u00a0<\/strong>as compared to a net loss of MYR469.0m in the fourth quarter of 2022.<\/p>\n\n\n\n

The leisure and hospitality industry in Malaysia recorded a 13 per cent increase in revenue to MYR1,798.8m (US$379m) and a 13 per cent increase in adjusted EBITDA to MYR529.5m (US$112m). Genting Malaysia attributed this to a higher volume of business from both gaming and non-gaming segments at Resorts World Genting (RWG).\u00a0<\/p>\n\n\n\n

For the full year 2023,\u00a0Genting Malaysia’s revenue increased by 18 per cent\u00a0to MYR10.19bn (US$2.15bn) while adjusted EBITDA grew by 24 per cent to MYR2.63bn (US$554m).\u00a0Genting Malaysia registered\u00a0a net profit of MYR360.8m (US$76m)<\/strong>\u00a0compared to a net loss of MYR667.4m (US$141m) in 2022.<\/p>\n\n\n\n

The company stated: “In Malaysia, the expected growth in regional tourism and domestic private consumption augurs well for the group\u2019s strategy on increasing visitation and customer spend at RWG. <\/p>\n\n\n\n

“Though competitive pressures remain, the group will continue to focus on innovative marketing initiatives to expand customer reach whilst capitalising on value offerings to grow key business segments. Meanwhile, continued investments in infrastructure enhancements at Genting Highlands will be made to ensure the safety of visitors and the surrounding community.”<\/p>\n\n\n\n

Resorts World Genting closes two gaming areas for property upgrades<\/h2>\n\n\n\n

Genting Malaysia has issued a statement confirming that Genting Casino 1 (Circus Palace)<\/strong> and Genting Casino 2 (Hollywood) <\/strong>at RWG have closed for renovation work.<\/p>\n\n\n\n

The company stated: \u201cIn our ongoing effort to improve our operational efficiency and enhance the gaming and entertainment experience for our guests, we continuously upgrade our facilities. This will involve temporarily closing certain sections of our casino to facilitate the improvements.\u201d<\/p>\n\n\n\n

It said gaming at the SkyCasino will continue to operate as usual. It is now the only casino at the venue. The company did not clarify how long the renovations will take or when the affected areas will reopen. <\/p>\n\n\n\n

See also:<\/strong> Genting Malaysia buys US$100m stake in US casino operator Empire Resorts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Genting Malaysia\u2019s revenue reached MYR2.72bn (US$573m) in the fourth 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 robust financial results for Q4 and full-year 2023, achieving significant revenue and EBITDA growth and reversing prior-year net losses. Concurrently, the company announced the temporary closure of two gaming areas at Resorts World Genting for facility upgrades, a strategic move aimed at enhancing operational efficiency and the overall guest experience while impacting immediate gaming capacity.","focusai_entities":"Genting Malaysia, Resorts World Genting","focusai_location":"Malaysia","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.75), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.85), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Renovation Impact Analysis","query":"What is the projected timeline for the Resorts World Genting casino renovations, and what is the estimated impact on GGR and NGR during the closure period?"},{"label":"Capital Allocation Strategy","query":"How will Genting Malaysia's capital expenditure for these infrastructure enhancements at RWG align with its broader regional expansion or M&A strategy?"}],"footnotes":""},"categories":[163,16333],"tags":[19394],"class_list":["post-777013614","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\/777013614","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=777013614"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013614\/revisions"}],"predecessor-version":[{"id":777013633,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013614\/revisions\/777013633"}],"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=777013614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}