ADVERTISEMENT

Increase in gaming taxes credit negative for Genting, says Moody’s


PETALING JAYA: The hike in taxes, fees and levies on the gaming industry, particularly the increase in casino duties of up to 35%, is credit negative for Genting Bhd , said Moody’s Investors Service.

The increase in duties, which was announced in Budget 2019, would erode Genting’s earnings contribution from its Malaysian leisure and hospitality segment, consequently weakening the group’s leverage, it said in a commentary.

Budget 2019 , Economy , Genting Bhd , gaming , duty , tax , casino

   

ADVERTISEMENT