Genting Berhad posts huge annual profit increase

Genting Berhad posted a massive yearly profit increase in the third quarter, hitting RM177.4m, up from RM11.37m in Q3 2022.

The group also saw revenue increase during the period, up 19 percent yearly to RM2.7bn.

Adjusted EBITDA during the period likewise rose by some 23 percent yearly to RM747.6m.

The group noted that during the third quarter, ‘leisure and hospitality operations in Malaysia recorded higher revenue by 20 per cent to RM1,680.9m, mainly attributable to the overall higher volume of business registered by Resorts World Genting (RWG) gaming and non-gaming segments’.

The group’s Malaysia segment delivered some RM1.68bn in revenue, up 20 per cent yearly, as adjusted EBITDA rallied 27 per cent, to RM563.9m.

The group’s United States and Bahamas operations also helped drive revenue, as EBITDA rose 6 per cent, to RM135.5m, on the back of revenue increasing 11 per cent, to RM473.7m. The group attributes this to the higher volume of business registered at Resorts World New York City and the improved operating performance of Resorts World Bimini.

Source: Asia Gaming Brief