• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 4 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Genting Malaysia recovery slows in 1Q22 on reopening costs, global Omicron outbreak

Ben Blaschke by Ben Blaschke
Fri 27 May 2022 at 05:06
Genting Malaysia granted leave for judicial review of MOF amendment to tax incentives

Genting Malaysia’s Resorts World Genting

18
SHARES
450
VIEWS
Print Friendly, PDF & Email

Genting Malaysia reported a net loss of MYR147.9 million (US$33.6 million) in the three months to 31 March 2022, down from a profit of MYR124.0 million (US$29.5 million) in 4Q21 due to costs associated with reopening and weakened demand associated with the Omicron variant.

However, the result was vastly improved on the March 2021 quarter when the company reported a net loss of MYR501.3 million (US$121 million).

Group-wide revenue in 1Q22 was MYR1.72 billion (US$391 million) – almost three times higher than the same period last year but slightly down on MYR1.89 billion (US$450 million) in the December quarter. Adjusted EBITDA of MYR414.4 million (US$94 million) compared with an EBITDA loss of MYR110.4 million (US$25.1 million) in 1Q21 and Adjusted EBITDA of MYR738.1 million (US$176 million) in Q4.

The 1Q22 results included strong revenue increases across the board, with Malaysia’s Resorts World Genting recording revenue of MYR920.0 million (US$209 million), up from MYR299.0 million (US$68 million) a year earlier. UK and Egypt properties recorded revenue of MYR395.3 million (US$90 million) versus MYR40.2 million (US$9.1 million) in 1Q21 while the USA and Bahamas saw revenues up from MYR256.3 million (US$58 million) to MYR357.9 million (US$81 million).

Discussing the short-term outlook, Genting Malaysia said, “International tourism is expected to continue its gradual recovery although weakening economic sentiments may delay the return of confidence in global travel.

“Nevertheless, the progressive reopening of borders and continued easing of COVID-19 restrictions will improve optimism surrounding the tourism, leisure and hospitality industries, including the regional gaming sector. Therefore, the Group is positive on the longer-term outlook of the leisure and hospitality industry.”

RelatedPosts

Konami reveals strong growth for Gaming and Systems segment despite group-wide declines in 1H20

Konami’s Gaming & Systems suffers decline in in June quarter profits on competitive environment, rising tariff costs

Fri 1 Aug 2025 at 05:44
The changing face of Macau

Melco beats forecasts again in 2Q25 as Macau resorts drive 16% increase in gaming revenues to US$1.1 billion

Fri 1 Aug 2025 at 05:08
The show must go on

MGM China reports all-time record Adjusted EBITDA of HK$2.5 billion, market share hits 16.6%

Thu 31 Jul 2025 at 05:11
PAGCOR to slash license fees charged to Philippine IR operators on online gaming GGR to new low of 25%

PAGCOR’s net income up 64% to US$188 million in first six months of 2025

Wed 30 Jul 2025 at 17:05
Load More
Tags: covid-19Genting MalaysiaMalaysiaprofitResorts World Gentingrevenue
Share7Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Experts claim 90% of Macau money exchange gangs eradicated since passing of illegal gaming law

Morgan Stanley says Macau now a growth market, raising 2025 GGR and EBITDA forecasts after two consecutive monthly beats

by Ben Blaschke
Mon 4 Aug 2025 at 11:48

Investment bank Morgan Stanley has raised its Macau GGR and EBITDA growth forecasts for 2025, and operator price targets by 30% across the board, following two consecutive monthly beats in June and July. In a Monday note, Morgan Stanley analysts...

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

Hann Resorts founder Dae Sik Han says IPO essential to ensure no delays to Clark expansion plans

by Ben Blaschke
Mon 4 Aug 2025 at 06:02

The Chairman and CEO of Hann Philippines Inc, Dae Sik Han, has revealed he opted to proceed with an initial public offering on the Philippine Stock Exchange to ensure his ambitious expansion plans could proceed without delay. Hann, the parent...

Philippine government insists President Marcos won’t “act in haste” on calls to ban online gaming

Philippine government insists President Marcos won’t “act in haste” on calls to ban online gaming

by Newsdesk
Mon 4 Aug 2025 at 05:55

The Presidential Palace has insisted that President Ferdinand R Marcos Jr will not act in haste in assessing whether or not ban the Philippines’ online gaming – also known as remote gaming or eGames – industry. The comments from Palace...

Jeju Dream Tower sets new records for casino drop, sales and visitation in July

Jeju Dream Tower sets new records for casino drop, sales and visitation in July

by Newsdesk
Sun 3 Aug 2025 at 12:47

Korea’s Jeju Dream Tower registered yet another all-time record in casino drop and visitation in July, continuing an impressive six month stretch of growth. According to information from the property’s parent company Lotte Tour, July visitation reached 56,691 – up...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English