It has taken Genting Malaysia a while to really get going post-COVID, but the signs are there. Its 2Q25 results were encouraging, showing a decent 9% year-on-year improvement in group-wide revenues to MYR2.92 billion (US$692 million) – largely on the back of higher gaming volumes at its home flagship, Resorts World Genting (RWG).
Dividends have not yet returned, although the need to deleverage and reserve cash for potential investments – including upgrades at RWG – stands as a legitimate excuse.
Overseas, the company remains a firm favorite to win one of the three full casino licenses on offer in New York. At time of writing, only three contenders remained in the hunt and Genting Malaysia is one of two that hold the advantage of an existing slots-only property to build from.
Its other US venture, ownership of Resorts World Catskills parent Empire Resorts, could finally be set to offload its debts as part of a recently announced deal to sell off the property’s non-gaming assets and lease them back. A more settled balance sheet would certainly be welcome news for investors.
Lee, who is closing on 30 years with the Genting Group, is a chartered accountant by trade. He was appointed President and Chief Operating Officer in 2006 and later became an Executive Director in January 2020.
