Global casino operator Genting Malaysia Bhd said its second-quarter revenue this year was close to 2.18 billion yuan ($486.5 million), up 166.0% from a year earlier. On Thursday, the casino company said "group operations in Malaysia registered strong recovery momentum, driven by the lifting of COVID-19-related restrictions and reopening its borders."
Genting Malaysia operates complex resort World Genting (file photo), the only licensed casino property in Malaysia. The group also operates casinos in the U.S. and Bahamas, the U.K., and Egypt through related businesses.
Despite the increase in sales, the company reported a net loss in the three months to June 30, though an improvement from a year ago. Genting Malaysia posted a net loss of just under $10.9 million for its shareholders, compared with $348.1 million in the second quarter of 2021, according to a filing with Bursa Malaysia.
The group reported adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) of $619.5 million in the second quarter, compared to adjusted EBITDA of $45.6 million in the same period last year.
Genting Malaysia also declared an interim single-tier dividend of MYR.0.06 per common share due on September 29.
Casino Group said it was "cautiously optimistic" about the short-term outlook for the leisure and hospitality industry but remained "positive for the long term."
Since April, Malaysia has opened its tourism market to domestic customers first and then to international customers.
"The recovery in overseas travel demand is expected to continue with the easing or removal of travel restrictions and the reopening of markets. However, concerns about a weakening global economy could delay the recovery trajectory," it added in a Thursday filing.
In Malaysia, the group's leisure and hospitality operations posted revenue of 1.31 billion yuan, "more than five times the level recorded in the second quarter of 2021," the company said. It also reported adjusted EBITDA for its Malaysian operations of 459.1 million yuan, compared with negative adjusted EBITDA of 94.2 million yuan in the same period last year.
"This improvement is driven by an overall increase in the number of businesses registered at Resorts World Genting after further COVID-19 related restrictions were lifted and borders reopened in Malaysia since April 1, 2022," Genting Malaysia said.
BY: 무료 슬롯