• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 15 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
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
No Result
View All Result
IAG
No Result
View All Result

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Ben Blaschke by Ben Blaschke
Fri 28 Feb 2025 at 05:10
Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Resorts World Genting

37
SHARES
933
VIEWS
Print Friendly, PDF & Email

Genting Malaysia reported a 17% year-on-year decline in Adjusted EBITDA to MYR621.5 million (US$140 million) from its global leisure and hospitality operations – and a 79% decline in group-wide Adjusted EBITDA to MYR180.6 million (US$41 million) – in 4Q24 as rising payroll costs, tighter margins and foreign exchange losses hit the company’s bottom line. Group-wide revenue in the sector fell very slightly to MYR2.69 billion (US$605 million).

The disappointing result, which missed consensus, saw Genting Malaysia declare a final dividend of 4sen per share – less than half the 9sen per share declared a year earlier. Nomura analysts described the dividend cut as a “negative surprise” and attributed the decision to a need to hold cash for capex opportunities.

While the largest impact on Genting Malaysia’s bottom line came from growing losses from associate Empire Resorts, which operates the company’s New York assets, plus high depreciation and finance costs, there was also a slight decline in revenues at Malaysian flagship Resorts World Genting (RWG), down 1% year-on-year to MYR1.78 billion (US$401 million).

Adjusted EBITDA at RWG fell 7% to MYR490.4 million (US$110 million) on higher operating expenses.

Revenue in the US and Bahamas also fell by 1% to MYR461.7 million (US$104 million) although the UK and Egypt booked a 4% increase in revenue to MYR446.4 million (US$100 million).

Nomura’s Tushar Mohata and Alpa Aggarwal noted that margins declined in all key markets due to “higher payroll costs (especially in the UK and the US) and EBITDA margin compression in Malaysia to 27.6%.”

For all of 2024 combined, Genting Malaysia reported a 7% increase in revenue from its leisure and hospitality operations to MYR10.7 billion (US$2.41 billion), while Adjusted EBITDA grew by 1% to MYR2.92 billion (US$657 million). However, profit before taxation fell by 28% to MYR486.7 million (US$110 million) – impacted by an MYR368.2 million (US$83 million) loss in Q4.

Addressing its results, Genting Malaysia said it remains “cautiously optimistic of the near-term prospects of the leisure and hospitality industry and remains positive in the longer-term.”

It added, “The group remains focused on strengthening its yielding capabilities, enhancing operational efficiencies and leveraging database marketing to optimise performance. Efforts will also be directed toward refining marketing strategies to increase visitation at RWG, whilst maintaining a diverse range of offerings that deliver maximum value to guests. Additionally, the Group will continue to place emphasis on effective cost management to maintain resilience and ensure business agility in an evolving operating environment.

“Ongoing investments in infrastructure upgrades and new attractions at Genting Highlands, including new ecotourism experiences set to launch this year, will further elevate the group’s offerings.

“To celebrate the Genting Group’s 60th anniversary, a series of promotional events and activities will be introduced throughout the year to attract more visitors to RWG.”

RelatedPosts

IAG EXPO 2025: Interview with Paul Heretakis

IAG EXPO 2025: Interview with Paul Heretakis

Thu 11 Sep 2025 at 21:35
As online gaming surges, Newport CEO Rodriguez says IRs must remain central to the Philippines’ tourism ambitions

As online gaming surges, Newport CEO Rodriguez says IRs must remain central to the Philippines’ tourism ambitions

Thu 11 Sep 2025 at 05:26
MGTO now expecting new record daily average for visitor arrivals during current National Day Golden Week holidays

Citi: Macau GGR likely to exceed MOP$1 billion per day during October Golden Week, strong events calendar may provide lengthy tail

Wed 10 Sep 2025 at 14:34
VIDEO: Aristocrat’s Lloyd Robson talks latest products for Asia

VIDEO: Aristocrat’s Lloyd Robson talks latest products for Asia

Tue 9 Sep 2025 at 17:57
Load More
Tags: dividendGamingGenting MalaysiaMalaysiaResorts World Gentingrevenue
Share15Share3
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

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

Police arrest 100 people after detecting 62 cases of illegal money exchange in joint Macau operation

by Pierce Chan
Mon 15 Sep 2025 at 22:58

Police from Macau, Guangdong and Hong Kong detected 62 cases of illegal money exchange and apprehended around 100 people suspected of being part of money exchange gangs as part of a month-long joint operation codenamed “Thunderstorm 2025”. Authorities said that...

Melco wins sustainability awards for “Above and Beyond” strategy

Melco yet to price proposed new notes offering, looking to redeem outstanding 2026 notes

by Newsdesk
Mon 15 Sep 2025 at 22:49

Melco Resorts Finance Limited, the Melco Resorts & Entertainment subsidiary that operates City of Dreams Macau, Altira Macau and Mocha Clubs, is proposing to conduct an international offering of senior notes as part of its plan to redeem all outstanding...

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

PAGCOR executive says technology advancements aiding rise in illegal online gaming operators

by Newsdesk
Mon 15 Sep 2025 at 22:25

The rapid advancement of technology within the gaming industry is driving a proliferation of illegal online operators by creating an unstable environment in which legitimate businesses can struggle, according to PAGCOR Vice President for Human Resource and Development Group, Dr...

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

Comtrade Gaming to expand reach of in-house studio CG Games via partnership with Interwetten

by Newsdesk
Mon 15 Sep 2025 at 22:05

Comtrade Gaming, a leading provider of advanced gaming technology, has announced a new partnership with online gaming provider Interwetten through which CG Games – Comtrade Gaming’s in-house game studio – will be integrated into Interwetten’s casino offering. This, Comtrade said,...

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

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
  • 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.

  • English