Thursday, July 25, 2024

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Genting Malaysia issues $84.7M notes for redevelopment of its resorts

Genting Malaysia Bhd's wholly-owned subsidiary has recently issued medium-term notes (MTN) worth some $84.7 million to finance development and redevelopment of its properties.

Maybank optimistic about Genting Malaysia, after outperforming profit expectations in 1Q24

Genting Malaysia Berhad has reported a strong performance for the first quarter of 2024, a recent dispatch by brokerage firm Maybank states, with core net profit surpassing expectations due to lower-than-anticipated tax rates.

Daily Asia Gaming eBrief: Highlands boosts Genting Malaysia 1Q24 results

According to Genting Malaysia Berhad's first quarter results, the company saw strong performance in both gaming and non-gaming, with ongoing investments planned. The group continues to keep its eye on New York, to see if it can get one of the three licenses up for grabs.

Genting Malaysia sees profit, revenue up as Resorts World improves

Resorts World Genting has registered a 25 percent increase in revenue in the first quarter of the year, hitting RM1.75 billion ($372.2 million), while Genting Malaysia Berhad recorded a 21 percent increase in revenue, hitting RM2.76 billion ($586.87 million).

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.