• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 22 July 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

Maybank: Visitor arrivals to Genting Malaysia’s Resorts World Genting to fully recover in 2024

Ben Blaschke by Ben Blaschke
Mon 8 Jan 2024 at 05:32
Genting’s Lim Kok Thay to take 20% pay cut after Malaysian gaming tax hike
13
SHARES
322
VIEWS
Print Friendly, PDF & Email

Resorts World Genting (RWG), the long-time flagship of Malaysian casino giant Genting Malaysia, should see its earnings increase by 60% year-on-year in 2024, aided by the recovery of visitor arrivals back to pre-COVID levels.

The outlook, provided in a weekend note from investment bank Maybank, comes after Genting Malaysia previously reported a net profit of MYR158.3 million (US$33.8 million) for the three months to 30 September 2023, reversing an MYR8.2 million (US$1.75 million) loss from a year earlier primarily thanks to the performance of RWG.

According to Maybank analyst Samuel Yin Shao Yang, visitor arrivals will recover to 24 million this year, up from 21 million last year as international tourists return in greater numbers.

“While Malaysian and Singaporean visitation (around 85% of total visitation pre-COVID) has recovered to pre-COVID levels, Indonesian (around 10% during pre-COVID) and Chinese visitations (around 4% during pre-COVID) have not,” Yin wrote.

“We are hopeful that air connectivity from the latter two source markets will be fully restored this year. It also helps that Malaysia recently granted 30-days visa free entry to Chinese visitors.

“Thanks to the above and despite the service tax hike to 8% from 6% effective 1 March 2024, we expect Genting Malaysia’s FY24E earnings to recover 60% year-on-year.”

Yin also outlined his expectation that such a recovery would allow Genting Malaysia to pay dividends of 15 sen per annum, a “decent” yield of at least 5.4%.

Notably, however, both earnings and share price estimates would increase significantly should the company prove successful in winning a full casino license in New York.

“We hope results for Resorts World New York City’s bid for a downstate commercial casino license will be made known before year end,” he said.

“Should Resorts World New York City be successful, we expect this to spur foreign interest in Genting Malaysia shares. Note that the current foreign shareholding in Genting Malaysia is at a multi-year low (of 15% as of 30 September 2023).”

RelatedPosts

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Tue 22 Jul 2025 at 05:21
Macau visitor numbers back to 95% of 2019 levels in first half of 2025

Macau visitor numbers back to 95% of 2019 levels in first half of 2025

Wed 16 Jul 2025 at 14:47
Macau’s 2025 visitor arrivals move past 20 million, 26 days earlier than last year

Macau’s 2025 visitor arrivals move past 20 million, 26 days earlier than last year

Tue 8 Jul 2025 at 14:47
As Thailand’s casino bill hangs by a thread, foreign visitor numbers continue to decline

As Thailand’s casino bill hangs by a thread, foreign visitor numbers continue to decline

Thu 3 Jul 2025 at 06:30
Load More
Tags: Genting MalaysiaMalaysiaMaybankprofitResorts World GentingSamuel Yin Shao Yangvisitor arrivals
Share5Share1
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 – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

Genting presents New York casino proposal to Community Advisory Committee, described as state’s largest IR

by Ben Blaschke
Tue 22 Jul 2025 at 05:21

Genting Malaysia’s US subsidiary, Genting New York LLC, said Monday it had completed a key step in its pursuit of a full New York casino license after presenting its expansion plan for Resorts World New York City (RWNYC) to the...

PAGCOR’s Alejandro Tengco

Inside Asian Gaming launches new dedicated website for IAG EXPO at iagexpo.com

by Newsdesk
Mon 21 Jul 2025 at 16:11

Inside Asian Gaming, Asia’s premier B2B gaming industry media and events company, is pleased to announce the launch of brand-new dedicated website for the upcoming IAG EXPO, to be found at iagexpo.com. The IAG EXPO will take place at Manila’s Newport...

Victoria to launch trial of mandatory carded play across 43 gaming venues in September

Victoria to launch trial of mandatory carded play across 43 gaming venues in September

by Ben Blaschke
Mon 21 Jul 2025 at 13:05

A trial of mandatory carded play across 43 venues with gaming machines will launch in Victoria next month, the state’s government has revealed. The trial – which will require patrons to use a “YourPlay” card and set loss limits in...

Galaxy unveils Capella at Galaxy Macau as newest hotel brand, to open mid-2025

Citi: Galaxy now Macau’s premium mass leader, Sands China close behind on new baccarat progressive jackpot

by Ben Blaschke
Mon 21 Jul 2025 at 09:39

Galaxy Entertainment Group has emerged from the pack as Macau’s new leader in premium mass, aided by the recent opening of the uber-luxury Capella at Galaxy Macau, according to Citigroup. In a note issued Monday following their latest monthly Macau...



IAG

© 2005-2024
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

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English