Wednesday, May 29, 2024

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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.

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.

Maybank lowers Genting Malaysia’s FY24 forecast by 4 percent due to service tax rate hike

Maybank has lowered Genting Malaysia's earnings estimate for fiscal 2024 and 2025 by 4 and 5 percent, respectively, due to a two percentage point service tax rate hike in the country.

Genting Malaysia outlook ‘stable’: Fitch Ratings

Fitch Ratings has considered the outlook of Malaysian tourism and gaming group Genting Malaysia Berhad's (GENM) as 'stable' in a recent dispatch.

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.

Fitch: Genting Malaysia and Singapore to reach pre-pandemic levels in 2H24

Analysts at ratings agency Fitch are expecting Genting Malaysia and Singapore's revenue to reach 2019 levels in the second half of 2024, and this year their revenue is likely to recover 85 to 90 percent of pre-pandemic levels.

Genting Malaysia’s $1.2bln Miami land sale falls through

An agreement between Resorts World Miami LLC and Genting Florida LLC to sell Miami Herald land for $1.2 billion to Smart Miami City LLC has fallen through, Genting Malaysia Berhad announced on Thursday.

Maybank trims Genting Malaysia’s earnings estimates on slow return of international visitation

Due to the “tad later than expected” return of international visitors to Resorts World Genting (RWG), the Maybank Investment Bank has lowered its earnings estimates for Genting Malaysia by 27 percent for FY23.

Genting Malaysia 1Q23 EBITDA up 43 percent to $129 million

Genting Malaysia has reported a 43 percent annual increase in adjusted EBITDA – to RM592.9 million ($128.94 million) – and a 33 percent increase in revenue – to RM2.28 billion ($496.51 million) in the first quarter of the year, despite registering a loss of RM45.4 million ($9.87 million).

Genting Malaysia raising $112 million to finance development/redevelopment of IRs

Genting Malaysia Berhad has announced that it is raising RM500 million ($112.69 million) in three tranches to ‘finance the development and/or redevelopment of the properties and/or resorts’ that it operates, including those in Genting Highlands.