Tuesday, May 14, 2024

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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’.

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.

Asia’s largest Hard Rock Hotel to open at Genting Highlands in 2027

The largest Hard Rock Hotel in Asia is slated to open in 2027 in Malaysia, at Genting Highlands.

Genting Malaysia’s fair value may rise 8 percent due to US casino license bid: brokerage 

Brokerage CGS-CIMB says Genting Malaysia Bhd's fair value may rise 8 to 14 percent if its New York City casino license bid succeeds.

Resorts World Las Vegas downgraded by Fitch, despite Genting’s strategic support

Although Genting Bhd has a high strategic incentive to support Resorts World Las Vegas (RWLV), the hotel and casino operator was downgraded by Fitch following the rating agency's re-assessment of its linkage with parent Genting Bhd. RWLV's senior secured and unsecured debt also suffered a cut, with Fitch assigning a negative outlook on the issuer.

Genting Singapore remains “cautiously optimistic” of recovery pace

The head of casino operator Genting Singapore Ltd, Lim Kok Thay, notes that the firm is expecting “continued recovery of travel and tourism”, mentioning that the “recovery pace may be inconsistent due to international flight capacities and unexpected border measures. Further, economic uncertainties and inflationary pressure as well as manpower challenges emerge as areas of concern”.

Fitch predicting strong recovery by Genting Malaysia into 2024

Analysts at Fitch Ratings are expecting integrated resorts operator Genting Malaysia Bhd to deleverage its net debt relative to EBITDA to a level of 3.2 times compared to 4.2 times currently.

Genting Singapore to sail post-pandemic recovery ride: Moody’s

With signs of post-pandemic recovery, Genting Singapore Ltd’s third quarter numbers for fiscal 2022 are expected to improve with the credit pack of the company to remain strongly anchored, said Moody’s in its latest report.

Genting winning in Macau may cloud its recovery: S&P Global Ratings

Genting bid for a Macau gaming license could shift the group's focus to debt-funded growth from deleveraging if it gets the gaming concession, argues S&P Global Ratings.

Genting Singapore 2022 earnings forecast upped 78% on recovery optimism: Maybank

Genting Singapore’s full year earnings forecast has been hiked 78 percent by Maybank following a faster-than-expected recovery at rival Marina Bay Sands.