Good Morning. Genting Malaysia’s 1Q22 results were lower-than-expected, though analysts forecast better times ahead as visitation to its new theme park picks up and the weak local currency helps to pull in tourists.
What you need to know
- A group linked with Japanese billionaire Kazuo Okada has “illegally and violently” taken over Okada Manila, according to operator Tiger Resort Leisure Entertainment (TRLEI).
- Crown Resorts’ strong financial profile has helped it to weather Covid and still maintain a buffer that will allow it to absorb regulatory fines at its current rating level: Fitch said.
- Star Entertainment is not suitable to hold a license in Sydney due to significant corporate governance failures, which they are only at the beginning of trying to address, prosecutor says.
On the radar
- Sportradar appoints Oscar Brodkin as managing director, Asia Pacific
- APE launches Mini Macau metaverse project, Resortsverse by year-end.
AGB Intelligence
DEEP DIVE
Genting Malaysia to benefit from SkyWorlds ramp up
Genting Malaysia’s 1Q22 results were lower-than-expected, though analysts forecast better times ahead as visitation to its new theme park picks up and the weak local currency helps to pull in tourists. The Malaysian operator, which also has operations in the U.S., U.K, Egypt and the Bahamas, last week posted a wider-than-expected adjusted net loss of MYR100 million ($22.8 million), compared with a profit of MYR296 million in the fourth quarter of last year.
Industry Updates
- BtoBet launches industry report focusing on U.K. online gambling industry.
MEMBERSHIP | MAGAZINE | ASEAN | CAREERS
