Casino and entertainment operator Genting has completed its fourth quarter results for 2020 and for the year.
It shows a profit for the quarter of RM155m, compared with RM935m in the comparative quarter of 2019. The full year shows a loss of RM2bn compared with a profit of RM3.6bn.
The company reported that the decline in revenue from Resorts World Genting in Malaysia was mainly due to the gaming and non-gaming suffering lower business volume following the imposition of travel restrictions.
In the UK and Egypt both recorded lower revenue due to lower volumes of business brought about by reduced capacity or closure during the pandemic.
The US and Bahamas were also suffering lower revenue for similar reasons, although the New York figures had risen to pre-pandemic levels already.
The group reports that globally the economic conditions are expected to continue to recover, helped by vaccinations. “However, on-going concerns and uncertainties amid the fluidity of the Covid-19 situation worldwide remain a significant downside risk.”