PETALING JAYA: Genting Bhd
expects the global tourism outlook to remain broadly positive despite prevailing trading environment uncertainties.
In a filing with the local stock exchange, the hospitality company said this positive momentum is expected to support the continued growth of the regional gaming market.
The group however, also noted it will continue to remain cautious of the near-term prospects of the leisure and hospitality industry.
For the second quarter ended June 30, 2025, Genting Bhd posted a lower revenue of RM6.78bil compared to the RM6.85bil it posted for the same quarter a year ago.
The group said the decrease was partly due to the strengthening of the ringgit against the US dollar, British pound and Singapore dollar.
Its profit for the quarter under review however, was higher at RM243.54mil compared to RM239.65mil a year ago.
One of its first assets, Resorts World Genting (RWG) saw an increase in revenue mainly due to overall higher business volume from the gaming segment.
Its business in the UK registered stronger revenue from the newly acquired Stratford casino, but partly offset by the strengthening of the ringgit against the pound, while the leisure and hospitality businesses in the US and Bahamas included higher revenue from Resorts World Bimini and revenue from Genting Empire Resorts LLC.
Its plantation division saw a stronger quarter on the back of stronger palm product prices and increased sales volume.
Meanwhile, the group’s subsidiary, Genting Malaysia Bhd, achieved a higher revenue at RM2.91bil, representing a 9% increase from the same period last year while its net profit surged to RM416.74mil compared to RM82.23mil registered in the same quarter last year on the back of net unrealised foreign exchange translation gains and one-off items.
For its first half of 2025 earnings, the group posted a revenue of RM5.51bil, despite seeing a softer performance in the first quarter of 2025 due to the timing of the festive season.
In the second quarter, revenue rebounded strongly mainly driven by higher business volumes, the newly acquired Genting Casino Stratford and the consolidation of Empire’s results.
The group said it has not declared a dividend for the quarter but assured shareholders it will continue to exercise prudent capital management to support business needs to drive growth and pare down existing debt.
“In Malaysia, amid macroeconomic uncertainties, we remain committed to enhancing business resilience by driving productivity improvements and maintaining disciplined cost management.
“We will continue to focus on driving visitation and increasing business volumes at RWG through optimised yield management and targeted database marketing. Ongoing investments in infrastructure upgrades and new facilities and attractions at RWG, including new ecotourism experiences at the mid-hill, are expected to further enhance the visitor experience,” it said.
For the UK, the recent legislative changes permitting the increase in gaming machine allocations in casinos that went into effect on July 22, 2025 will further enable growth.
“The successful integration of Genting Casino Stratford has strengthened the group’s market presence, with ongoing efforts to identify new expansion opportunities,” it noted.
Furthermore, the group has submitted its bid in the US for a commercial casino licence to the New York State Gaming Commission, whereby the evaluation process is currently underway.
