Genting Malaysia launches new mass gaming floor at RWG

The new gaming zone, labelled Genting Casino, has two areas with two themes.

Malaysia.- Maybank Investment Bank has reported Genting Malaysia has opened a new mass gaming floor at Resorts World Genting (RWG) while the company continues its renovation work on Genting Casino 1 (Circus Palace) and Genting Casino 2 (Hollywood).

According to analyst Samuel Yin Shao Yang, the gaming floor, named Genting Casino, features two areas with distinct themes: one similar to the existing Sky Casino and another with a traditional Chinese design. The latter includes 36 conventional gaming tables and some lower-yielding slot machines and electronic tables.

The investment bank, however, said that the new floor is smaller than the Circus Palace and Hollywood mass gaming areas. The estimated floor space of Genting Casino is between 10,000 and 20,000 square feet and accounts for less than 10 per cent of the total capacity when Circus Palace and Hollywood were fully operational.

Last December, Maybank lowered their full-year 2025 mass-market gross gaming revenue (GGR) forecast for 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. There is no current reopening date for the venues.

Samuel Yin Shao Yang said: “We had expected both gaming floors to reopen around now to capitalise on the year-end holidays.”

Genting Malaysia, 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 in year-on-year terms. The figure was up from MYR62.7m (US$14.6m) in the second quarter of the year.

Revenue was up 1 per cent year-on-year and 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.

Revenue in the leisure and hospitality segment – including casino 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.

See also: Genting Americas files motion to dismiss US$600m complaint case

The new gaming zone, labelled Genting Casino, has two areas with two themes. Malaysia.- Maybank Investment Bank has reported Genting Malaysia has opened a new mass gaming floor at Resorts…