Virus outbreak a temporary setback for Genting group

In its recent report, CGS-CIMB Research points out that GenM’s Resorts World Genting (RWG) will likely be negatively impacted by lower gaming, hotel and theme park revenues if the Wuhan coronavirus outbreak became a global pandemic.

The rapid spread of a deadly new virus from Wuhan, China, has dashed expectations of an earlier-than-scheduled opening of the new outdoor theme park by Genting Malaysia Bhd (GenM).

Prior to the novel coronavirus outbreak, some analysts had expected that the hotel and casino operator would bring forward the soft launch of the highly anticipated theme park in Genting Highlands to some time in the second quarter of this year, instead of waiting until the third quarter of 2020 as the company had announced earlier on.