The company’s revenue increased by 9.3 per cent year-on-year
Malaysia.- Genting Malaysia has reported its second-quarter financial results. Revenue totalled MYR2.92bn (US$691m), up 9.3 per cent year-on-year. Net profit attributable to shareholders reached MYR416.7m (US$98.6m), up 406.8 per cent year-on-year, and adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) was MYR1.03bn (US$243.7m), an increase of 33.6 per cent.
Some 61.1 per cent of revenue, or MYR1.78bn (US$421.3m), was from the group’s Malaysian leisure and hospitality business, including Resorts World Genting and some non-gaming resort assets. Genting Malaysia’s UK and Egypt operating segment produced second-quarter revenue of MYR511.2m (US$121m), up 9 per cent. The US and the Bahamas generated MYR576m (US$136.3m), up 9.1 per cent year-on-year.
The leisure and hospitality segment generated adjusted EBITDA of MYR794.9m (US$188.1m), up 3.7 percent from the same period in 2024.
The firm stated: “The group will continue to exercise prudent capital management to support business needs to drive growth and pare down existing debt.” Adding it “remains committed to delivering long-term shareholder value”.
Genting Malaysia recently announced a proposal to restructure its wholly owned subsidiary, Empire Resorts. The plan includes the sale of non-gaming assets in New York, including Resorts World Catskills’ 332-room hotel, Alder Hotel, the Monster Golf Course, RWC Epicenter and several restaurants to Sullivan County Resort Facilities Local Development Corporation (SCRFLDC) for US$525m.
Empire will lease back the land until 2066 and manage the facilities under a 20-year agreement, renewable for two additional five-year periods.
The company’s revenue increased by 9.3 per cent year-on-year Malaysia.- Genting Malaysia has reported its second-quarter financial results. Revenue totalled MYR2.92bn (US$691m), up 9.3 per cent year-on-year. Net profit attributable…
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