Fitch Ratings Forecasts Speedy Recovery for Genting Berhad

Credit ratings, commentary and research for global capital markets provider Fitch Ratings forecasts that casino and hospitality company Genting Berhad will soon experience a vigorous recovery. That is thanks to the big vaccination rates as well as Genting Berhad’s reduced capital expenditure and strong recovery in the US.

Genting Berhad Back to Full Power by 2023-2024
Last week, Resorts World Genting started accommodating guests once again. The hospitality brand was closed for the last four months but will now begin its journey to recovery. Analysts believe that business will quickly pick up, considering the numbers from the company’s previous reopening in fall 2020.

Fitch Ratings believes that Resort World Genting will open up at 50% capacity and will remain at that rate until at least the first quarter of 2022. However, the analysts envision a relaxation in the COVID-19 measures as the pandemic slowly tones down. These predictions are in line with what some countries, including the US and the UK, believe will happen, as well.

Source: https://www.gamblingnews.com/news/fitch-ratings-forecasts-speedy-recovery-for-genting-berhad/