Higher visitation and spending are expected to drive Genting Malaysia’s performance growth in 1Q22, with EBITDA pegged to grow 26 percent to RM450 million ($105.8 million).
According to analysts at J.P. Morgan, the company’s flagship property, Resorts World Genting saw 4.8 million visitors in 4Q21, and spend/pax of RM240.
Driven by reopening momentum, the analysts expect visitation to grow 13 percent quarter-on-quarter to 5.4 million, whilst spending per patron will expand by 17 percent to RM280.
JPM said that visitation growth is being driven by growing overnight options around RWG, and spending should also rise due to RWG’s more expensive spending outlets.
The company has also been able to improve its cost structure through the use of technology to reduce costs during lockdown.