Genting Malaysia reports 23% revenue increase in leisure, hospitality ops?

Jenny Ortiz March 4, 2024

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Genting Malaysia reports 23% revenue increase in leisure, hospitality ops?

The leisure and hospitality operations of Genting Malaysia recorded a 23 percent rise in revenue in 2023.

Based on the global casino operator’s filing to Bursa Malaysia last week, Genting Malaysia’s leisure and hospitality business revenue last year was RM6.4 billion (€1.24 billion) for Fiscal Year 2023.

The company’s EBITDA also grew by 26 percent to RM2.1 billion (€401 million).

Business volume, travel demand contributed to the growth?

Genting Malaysia attributed the rise in revenue of its leisure and hospitality operations to the higher volume of business from the gaming and non-gaming segments at Resorts World Genting (RWG), as well as the growing travel demand from the wider region.

Improvement in EBITDA margin?

The company also recorded an improved adjusted EBITDA margin by 1 percentage point to 32 percent.

Temporary closure of two casinos?

Last week, RWG announced the temporary closure of two of its three casinos.

According to the report, the decision is part of the company’s ongoing efforts to upgrade and enhance its facilities.

RWG said the two casinos slated for temporary closure are Genting Casino 1 (Circus Place) and Genting Casino 2 (Hollywood).

Meanwhile, the resort’s third casino, Sky Casino, will continue to operate as usual.

RWG has not provided a specific date for the reopening of the two casinos.

But it assured its customers that the closures are temporary and that the casinos will resume operations once the upgrades are complete.

SiGMA Africa – only one week away!???

Just a week away?until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscape. With the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa toward a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.??