Genting Malaysia’s EBITDA margin to remain “compressed” until 2027, Fitch says

The agency cites “higher operating costs and payroll-related expenses” in the UK and US.

Malaysia.- Fitch Ratings has reported that it expects the earnings before interest, taxation, depreciation, and amortisation (EBITDA) margin at Genting Malaysia to “remain compressed at 23 per cent from 2025 to 2027”. It cited “higher operating costs and payroll-related expenses” in UK and US operations.

It noted labour union contract renewals in the US from the second half of 2024, and higher minimum wage levels and contributions to national insurance in the UK. It said increased business volumes should mitigate the impact of higher operating costs and support margins.

It sees strengthening of the Malaysian ringgit and softness in VIP gaming volumes as risks for the rest of 2025, although VIP volumes in the second quarter of 2025 were up 14 per cent year-on-year.

Genting Malaysia recently reported second-quarter revenue of 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.

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See also: Genting Malaysia reports revenue increase for Q2

The agency cites “higher operating costs and payroll-related expenses” in the UK and US. Malaysia.- Fitch Ratings has reported that it expects the earnings before interest, taxation, depreciation, and amortisation…