Apr 10, 2023 Newsdesk Latest News, Rest of Asia, Top of the deck
The chairman of Genting Malaysia Bhd says a priority for the international casino group is to increase operational capacity at its Resorts World Genting (RWG) property – Malaysia’s only casino complex – to pre-Covid-19 levels. The firm is also looking to attract more foreign visitors to the site.
“Whilst we are encouraged by the recovery trajectory of our operations in Malaysia, we remain cognisant of the potential challenges in the operating environment,” chairman Alwi Jantan (pictured) said in a message featured in Genting Malaysia’s 2022 annual report, published last week.
He added: “The group will continue to focus on ramping up its operations at Resorts World Genting to pre-pandemic capacity.”
In February, Genting Malaysia had said its leisure and hospitality business in Malaysia had, in terms of fourth quarter revenue, “recorded a 65-percent increase” year-on-year, to MYR1.59 billion (US$360.7 million), with the segment reporting a “30-percent growth” in adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA), to MYR467.3 million.
“These improvements were largely attributable to the overall higher volume of business registered at Resorts World Genting, as the resort’s improved operating performance was driven by the continued ramp up of its business following the lifting of Covid-19 related restrictions, and the reopening of national borders in Malaysia from 1 April 2022,” stated the firm at the time.
The group also runs casinos in the United States, the Bahamas, the United Kingdom, and Egypt.
Last year, the firm launched a new outdoor theme park at Resorts World Genting.
In his annual report message, Genting Malaysia’s chairman said the group was aiming to “attract incremental foreign [visitors] to the resort.”
He added: “In line with the improving optimism surrounding international travel, the broad-based recovery of the regional gaming sector is expected to remain intact, aided by the re-opening of key markets and pent-up demand.”
Genting Malaysia’s chairman also said the firm would “continue to closely monitor and enhance the maintenance of access roads to Resorts World Genting”. The comment came after several traffic accidents were recorded in the past 12 months in the Genting Highlands, where the casino resort is located.
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