• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 19 September 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

Genting says no immediate plans to reopen shuttered Malaysian casino floors

Ben Blaschke by Ben Blaschke
Sun 1 Dec 2024 at 07:15
Genting says no immediate plans to reopen shuttered Malaysian casino floors
2k
SHARES
50.1k
VIEWS
Print Friendly, PDF & Email

Maybank Investment Bank has cut its earnings estimates for Genting Malaysia after learning that the company has no immediate plans to reopen two of the three casino floors at its flagship integrated resort, Resorts World Genting (RWG).

Genting Malaysia revealed its surprise plans – or lack thereof – during an earnings call with analysts last week, stating that it would only reopen the Circus Palace and Hollywood mass gaming floors if there was sufficient demand.

The casinos were shuttered suddenly in February with the company later clarifying that it planned to undergo upgrade works on them before reopening. However, sources have told IAG that there appears to have been “minimal renovation” done.

In a research note following release of Genting Malaysia’s 3Q24 financial results late last week, Maybank’s Samuel Yin Shao Yang said he was “surprised” that Genting had “yet to disclose concrete plans to reopen the Circus Palace and Hollywood mass gaming floors, which were closed in February 2024 citing uncertain demand. We had expected both gaming floors to reopen around now to capitalise on the year-end holidays.”

The analyst has also slashed his long-term earnings estimates for Genting Malaysia by up to 21% and cut RWG mass market GGR by 25% on a full year basis to account for the continued closure of the Circus Palace and Hollywood mass gaming floors.

Net impact, he said, is to cut his FY24 net profit estimates by 5% to MYR1.35 billion, FY25 estimates by 21% to MYR1.67 billion and FY26 estimates by 20% to MYR1.88 billion.

Genting Malaysia last week reported flat year-on-year GGR in Malaysia but a 13% decline in Adjusted EBITDA to MYR493.4 million (US$111 million) on higher payroll and casino operating costs.

Yin said he expects Q4 EBITDA to be slightly better due to the year-end holidays.

RelatedPosts

Genting sued by partner in Bahamas casino Resorts World Bimini for alleged “massive and co-ordinated fraud”

Genting Malaysia looks to dismiss amended complaint filed by partner in Bahamas casino-resort, says no new material elements introduced

Wed 17 Sep 2025 at 19:02
Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Genting Malaysia plan to sell off non-gaming assets of Resorts World Catskills delayed for a second time

Wed 17 Sep 2025 at 17:06
Philippines senator calls for PAGCOR to split in two on conflict of interest concerns

Senate hearing into online gambling sector on hold as flood control scandal reveals almost US$17 million in embezzled funds lost in Philippines casinos

Thu 11 Sep 2025 at 06:43

Macau sets another post-pandemic record in August as GGR hits MOP$22.2 billion

Mon 1 Sep 2025 at 12:51
Load More
Tags: casinosCircus PalaceGenting MalaysiaHollywoodMalaysiaMaybank SecuritiesResorts World Genting
Share802Share140
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 – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

Philippines casino GGR up 630% quarter-on-quarter in 3Q20

Philippines remote gaming industry heading towards period of heavy consolidation

by Ben Blaschke
Fri 19 Sep 2025 at 01:26

The recent surge in Philippine online gaming licensees is likely to enter a period of contraction in the near future, with barely a third of those currently operational generating sufficient revenue to justify their existence. Tonet Quiogue, Partner and Head...

1xBet and Paris Saint-Germain extend partnership for three more seasons

1xBet and Paris Saint-Germain extend partnership for three more seasons

by Newsdesk
Thu 18 Sep 2025 at 22:18

Global betting company 1xBet has extended its partnership with Champions League champs Paris Saint-Germain, retaining its status as the club’s official partner for the next three seasons. The renewal was confirmed during the final day of the 2025 SBC Summit...

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

Industry lawyer: All hope not lost for Thailand’s deflated casino bill

by Ben Blaschke
Thu 18 Sep 2025 at 20:04

Thailand’s controversial Entertainment Complex Bill may be dead in the water, but there remains some hope that it could yet be revived – possibly as soon as early 2026 – according to prominent industry lawyer Lau Kok Keng, Partner and...

DigiPlus links with Philippine First Insurance to provide surety bond protection program for its online gaming players

DigiPlus links with Philippine First Insurance to provide surety bond protection program for its online gaming players

by Ben Blaschke
Thu 18 Sep 2025 at 17:03

Leading Philippines eGames provider DigiPlus Interactive Corp has inked a deal with domestic insurance company Philippine First Insurance Co. Inc  to introduce what it describes as the Philippines’ first-ever surety bond program for online gaming players. Taking effect immediately, the...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English