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Genting Malaysia seeks cost cuts to offset tax upsets

Genting Malaysia has been forced into cost cutting mode to offset the negative impact of recent tax rulings, though analysts still expect 2019 to be another tough year for the country’s only operator.

Judicial review application for GITP incentive scheme to be heard May 30

The High Court on Thursday confirmed for May 30 to hear Genting Malaysia’s application for a judicial review concerning a tax incentive scheme for...

Genting outlook dimmed by lawsuit, tax hikes

A more than $1 billion legal dispute with Walt Disney Co. and Fox Entertainment over a planned theme park is capping off a roller coaster of a year for Genting Malaysia, with analysts slashing their forecasts for the group.

Genting Malaysia net profit doubles in 18Q2

Genting Malaysia saw its second-quarter net profit more than double to RM378.2 million (US$91.6 million), helped by higher revenue from its Malaysian operations. The...

GENM to start seeing benefits from GITP expansion in 2018

With the GITP expansion plan expected to start bearing fruit this year, 2018 should be a strong year for Genting Malaysia Bhd, say analysts. Kenanga...

Malaysian government not likely to increase gaming taxes

There is little chance for the Malaysian government to increase gaming taxes for casino and lottery options, according to AmBank group chief economist Anthony...

Forest-themed mass floor opens as revamp plan rolls on

Genting Malaysia continues to roll out new facilities under a MYR10 billion ($2.3 billion) revamp plan, though a theme park development with 20th Century Fox, seen as a key driver for growth, has now been delayed until the second quarter of next year. The company's new Sky Casino mass floor is now open and the third and fourth floors catering to VIPs are scheduled to open this quarter.

Genting Malaysia profit rises two-fold in 17Q1

Casino operator Genting Malaysia Bhd recorded a two-fold rise in net profit in the first quarter of 2017, aided by lower foreign exchange losses...

No increase in total gaming area: Genting Highlands

Genting Malaysia’s RM10 billion ($2.4 billion) expansion of its highlands resort will not include any increase of its net casino area, said chairman and...

Genting gears for tourism plan rollout

Genting Malaysia, the country’s only casino operator, is ramping up preparation works as it prepares to begin rolling out the first stages of its RM10.38 billion ($2.46 billion) Genting Integrated Tourism Plan in the second half of this year. The company, which has said that it expects the economic environment to be challenging in 2016, is forecast to open its Sky Avenue & Sky Plaza shopping malls, and a new cable car station progressively by the end of the year. However, its much touted Twentieth Century Fox World theme park has been delayed to late 2017. The plan is still seen as the main catalyst for growth at the company as its overseas operations face headwinds.  

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