Malaysia’s Resorts World Genting has partially reopened one of the two casino floors it closed last February, ensuring greater gaming capacity in the lead-up to next week’s Chinese New Year holiday.
The update formed part of a note from Phillip Capital Research in which it stated that the mass market Hollywood Casino – also known as Genting Casino 2 – is open again although Circus Palace or Genting Casino 1 remained shuttered.
Both gaming floors were closed early last year for what operator Genting Malaysia said were major upgrades.
While it was recently claimed that the company was in no great rush to open either casino given the recent expansion of other gaming space, Phillip Capital Research said, “Genting Casino 2 is operational and open to the mass market, while most of Genting Casino 1 remains closed to the public. We could not confirm the exact floor space as some areas appeared larger than indicated on the map.
“However, we estimate that less than one third of the former casino floor space (of the two casinos combined) is open to the public.”
Phillip Capital, which has maintained a “BUY” call on Genting Malaysia stocks, added that the company is prioritizing the completion of additional casino floor space in time for CNY.
