The bank has cut its forecast due to the continued closure of the Circus Palace and Hollywood mass gaming floors.<\/p>\n\n\n\n\n\n\n\n
Malaysia.- Analysts at\u00a0Maybank Investment Bank\u00a0<\/strong>have\u00a0lowered their full-year 2025 mass-market gross gaming revenue (GGR) forecast\u00a0for Resorts World Genting (RWG) by 25 per cent. They said the adjustment was made due to the ongoing closure of the Circus Palace and Hollywood mass gaming floors<\/a>, which was announced at the end of February. There is no current reopening date for the venues.<\/p>\n\n\n\n Maybank analyst Samuel Yin Shao Yang<\/strong> said: \u201cWe had expected both gaming floors to reopen around now to capitalise on the year-end holidays.\u201d<\/p>\n\n\n\n Genting Malaysia<\/strong>, the operator of RWG, posted a net profit of MYR548.3m (US$123.3m) for the third quarter of the year. That’s a rise of 246.3 per cent\u00a0in year-on-year terms. The figure was up from\u00a0MYR62.7m (US$14.6m) in the second quarter of the year<\/a>.<\/p>\n\n\n\n Revenue was up 1 per cent year-on-year\u00a0and 3 per cent quarter-on-quarter to MYR2.74bn (US$615.7m). Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) were up 74.5 per cent year-on-year to MYR1.31bn (US$294.2m) and up 69.4 per cent when compared to the previous quarter.<\/p>\n\n\n\n Revenue in the leisure and hospitality segment \u2013 including\u00a0casino operations was MYR1.68bn (US$377.5m) in Malaysia, flat in year-on-year terms and up 4.2 per cent in quarter-on-quarter terms. Adjusted EBITDA declined by 13 per cent year-on-year to MYR493.4m (US$110.9m), mainly due to higher operating expenses. The Group registered adjusted EBITDA margin of 29 per cent.<\/p>\n\n\n\n In the United Kingdom (UK) and Egypt, the group reported a 9 per cent increase in revenue to MYR538m (US$120.9m) while adjusted EBITDA grew by 5 per cent to MYR104m (US$23.4m) due to the higher volume of business. In the US and the Bahamas, the casino operator reported a marginal decline in revenue to MYR472.2m (US$106.1m). Adjusted EBITDA was down by 8 per cent to MYR124.2m (US$27.9m), mainly due to higher operating and payroll-related expenses.<\/p>\n\n\n\n Genting Malaysia posted revenue of MYR8.18bn (US$1.84bn) for the first nine months of the year. That\u2019s an increase of 10 per cent in year-on-year terms. Adjusted EBITDA was up 53 per cent year-on-year to MYR2.72bn (US$611.2m).<\/p>\n\n\n\n