Sunday, May 12, 2024

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Genting Singapore: ‘robust growth’ in 1Q24, revenue tops $580M

Genting Singapore experienced 'robust growth' in the first quarter of 2024, delivering revenue of $580 million and adjusted EBITDA of $273 million.

Malaysia in talks with Berjaya and Genting over potential casino in Forest City

Malaysia is currently in talks with Berjaya and Genting Group to potentially open a casino in Forest City, in Johor, known as the nation’s ‘ghost city’.

Non-gaming offerings to shield Genting from possible reduction in Chinese gamblers – Board of Directors

In a response to shareholders questions ahead of its board meeting, Genting Singapore stated that the improvement in Chinese arrivals is expected to contribute positively to its performance and touted future non-gaming offerings as a response to the warning issued by Chinese authorities for the country's citizens to avoid gaming in the city-state.

Genting promises $1 billion in taxes if granted NYC casino license

Genting Malaysia, the owner of Resorts World casino in New York City, has promised to increase its tax payments to the state to over $1 billion annually if granted one of the three new licenses.

Genting Malaysia’s leisure and hospitality biz up 23% in FY23

Global casino operator Genting Malaysia has reported a continuous improvement in its performance due to further recovery from the COVID outbreak.

Casino closures only partial and temporary: Genting Highlands

Genting Bhd's Resorts World Genting has clarified that only some sections of two out of its three casinos will be closed temporary for renovation purposes.

Maybank trims Genting Singapore profit estimates despite optimistic outlook

Although maintaining a ‘cautiously optimistic’ outlook for Genting Singapore in 2024, Maybank cuts its EBITDA and core net profit estimates by 6 percent and 11-12 percent, respectively.

Genting Singapore’s net profit tops $456M in 2023, up 80% year-over-year

Genting Singapore has announced a net profit of SG$611.6 million ($456 million) for the fiscal year 2023, which concluded on December 31st, marking an 80 percent increase year-over-year.

Genting Malaysia injecting $100 million in Empire Resorts to up NY license bid 

Genting Malaysia is planning to inject some $100 million in equity into Empire Resorts, as the group continues its push for a New York gaming license.

Daily Asia Gaming eBrief: Outbound China tourism recovery good news for Genting

Genting operations in Malaysia and Singapore 2024 are poised to get a shot in the arm from the recovery in the Chinese outbound tourism market. Analysts from Hong Leong Investment Bank Research and Maybank see the group’s Resorts World properties getting back or exceeding pre-pandemic revenue figures.