Investment bank Maybank has revised its earning estimates for Genting Berhad due to the strong performance posted by the group in 3Q23.

Genting Berhad posted a massive yearly profit increase in the third quarter, hitting RM177.4 million, up from RM11.37 million in 3Q22.

A tale of many cities. That's what's driving the high expectations for the second-half results of Genting Berhad, with analysts at Maybank saying visitor arrivals have increased at all of its integrated resorts.

Despite Genting Berhad’s core net profit for 2Q23 and 1H23 falling slightly below expectations, along with the first interim Dividend Per Share (DPS) missing the mark, analysts at Maybank maintain high expectations due to the anticipation of 'earnings improving sequentially, driven by the rise in visitor arrivals at all its integrated resorts.'

Genting Berhad has seen a 14 percent growth in revenue during the first half-year period, totalling RM2.47 billion ($531 million), despite adjusted EBITDA falling by 28 percent to RM447.9 million ($96.43 million).

Ratings agency Moody’s has changed its outlook on Genting Berhad and Genting Singapore, shifting the rating to stable from negative.

Genting appears to be getting more excited about the North American market than Asia, as it aims to offload Miami real estate for $1 billion, to invest in a New York casino and other operations there.

Genting Berhad is reportedly planning to sell part of its Miami real estate, seeking over $1 billion, which it plans to use to further other projects, such as a casino bid in New York.

Genting Malaysia has confirmed that its bid for a Macau gaming concessions was unsuccessful.

It's good to know somebody's got your back. That's exactly what analysts are predicting for Resorts World Las Vegas, stating that its parent company - Malaysia's Genting Berhad - will provide 'extraordinary support' to the operator in resolving its issues with the Nevada gaming regulator. Meanwhile, regulators in Australia continue on the warpath against betting adverts, leveling a record fine at online gaming operator PlayUp Interactive for promoting gambling inducements.