Genting Malaysia Swings to Profit, But Cautious on Outlook

In the first quarter of 2024, Genting Malaysia Bhd reported a net profit of MYR36.7 billion (US$7.8 million), which reversed the net loss of the same period the year before.

But because of foreign exchange losses, the profit is significantly less than it was in the previous quarter.

At MYR2.28 billion, revenue climbed 21.1% annually because to its operations in Malaysia, especially Resorts World Genting. Malaysia’s adjusted EBITDA grew 33.7% annually in spite of rising expenses.

Due to industry-wide uncertainty and the temporary closure of two gaming zones for repairs, Genting Malaysia is being cautious. To expedite growth, they plan to employ marketing strategies and technology.

Original Story by: GGRAsia