PETALING JAYA: Genting Bhd
declared a net profit of RM100.1mil for the first quarter ended March 31, 2026 (1Q26) compared to RM4.6mil in 1Q25 on revenue that grew 2.4% to RM6.7bil.
The company said in a media release that adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for 1Q26 was 8% lower at RM1.8bil due to the strengthening of the ringgit against the US dollar, pound sterling and Singapore dollar, which reduced the translated contributions of revenue and Ebitda in ringgit from foreign operations.
Its integrated resort in Singapore, Resorts World Sentosa, recorded revenue and Ebitda of RM1.9bil and RM568.5mil respectively in 1Q26 on steady operational progress, gaming revenue showing improving momentum towards the end of the period.
Non-gaming revenue increased year-on-year, supported by higher visitation to key attractions including Universal Studios Singapore and the Singapore Oceanarium. It added that Resorts World Genting recorded higher revenue and Ebitda in 1Q26 over 1Q25 mainly from the gaming segment.
It noted that the consolidation of Genting Empire Resorts LLC contributed to an increase in revenue from the leisure and hospitality businesses in the United States and Bahamas, and this has partially mitigated the impact from gaming floor disruptions at Resorts World New York City during its transition to a commercial casino, which also incurred costs during the transition.
The company remains cautious of the near-term prospects of the leisure and hospitality industry but remains positive in the longer-term, noting that global growth momentum “is expected to soften amid ongoing geopolitical tensions in the Middle East and broader macroeconomic uncertainties” despite US economic resilience.
“In Malaysia, the outlook is expected to remain cautious, as growth may moderate due to inflationary pressures, geopolitical uncertainties and external headwinds weighing on the broader domestic economy,” it said.
In a separate filing, its listed subsidiary Genting Malaysia Bhd reported a net loss of RM3.8mil in 1Q26 compared to a net profit of RM72.7mil in 1Q25 while revenue gained 10% to RM2.8bil.
Adjusted Ebitda declined 13% to RM644.7mil while the company recorded lower net unrealised foreign exchange translation gains of RM14.6mil, compared with RM50.4mil in arising from the translation of US dollar denominated borrowings. Excluding this impact, the adjusted Ebitda would have declined by 8% year-on-year.
