Genting Berhad has seen a 14 percent growth in revenue during the first half-year period, totalling RM2.47 billion ($531 million), despite adjusted EBITDA falling by 28 percent to RM447.9 million ($96.43 million).
The group notes that its ‘leisure and hospitality’ division saw a 17 percent increase in revenue, to RM1.55 billion ($334 million), with adjusted EBITDA up 16 percent, to RM532.3 million ($114.6 million).
The group notes that operations at Resorts World Genting are continuing to ‘ramp up’, despite the group incurring a loss of RM15.1 million ($3.2 million).
The group notes that it saw ‘overall higher volume of business’ during the period at its Resorts World Genting property, however it faced increased operating expenses during the period.
Looking forward, the group notes that it ‘remains focused on driving visitation, operational efficiencies and effective cost management’ at its Malaysian property. It’s also aiming to increase foreign visitation.
Looking to the US, the group notes that it ‘remains focused on strengthening its leading position in the New York State gaming market’, as it seeks a casino license, an issue which it notes it will ‘closely monitor’’.
