Tag Archives: Malaysia
Casino project could save Malaysia’s failing US$100bn Forest City ‘ghost town’
A second casino licence has once again been touted for Malaysia with Prime Minister Anwar Ibrahim evaluating whether a casino could revive the fortunes of the failing US$100bn Forest City residential development in Johor, close to the border with Singapore. Bloomberg has reported that the PM has discussed the potential opportunity with Genting Group’s Lim…
Malaysia – Malaysia’s Tourism sector discusses potential of a second Genting Highlands in Borneo
The potential of a second Genting Highlands resort casino being built in Malaysia has been discussed by some high-profile figures in the Malaysian tourism sector, who have refused to rule out its development in the Borneo Highlands in Sarawak. Malaysia’s Tourism, Creative Industry and Performing Arts Minister Dato Sri Abdul Karim Rahman Hamzah has Addressing…
Malaysia – Badminton World Federation onboards Stats Perform’s integrity services
The Badminton World Federation has signed a wide-ranging, long-term agreement for Stats Perform to provide the BWF Integrity Unit with a range of advanced integrity services to enhance its protection of the sport. The partnership boosts the BWF Integrity Unit’s capabilities to investigate suspicious betting activity on badminton matches and is part of continuing deterrent…
Malaysia – Resorts World Genting to break even by end of the year
Maybank Investment Bank believes that Genting Malaysia’s Resorts World Genting could breakeven by the fourth quarter of the year having reopened last week, and that re-COVID-19 levels will return next year. The casino hasn’t broken even ifor the duration of the pandemic. Maybank Investment Bank analyst Samuel Yin Shao Yang said: “We are optimistic that…
Malaysia – Resorts World Genting could be closed for another three months
Resorts World Genting, the mountaintop Malaysian casino will stay shut for another quarter of a year with Maybank Investment Bank earmarking a November reopening when the national vaccination level reaches 80 per cent. Maybank IB analyst Samuel Yin Shao Yang believes it will take another three months for the vaccination levels to reach that point….
Malaysia – Maybank slashes Genting Malaysia profit guide
Losses at Genting Malaysia’s flagship IR Resorts World Genting (RWG) could plunge by 76 per cent to reach MYR676m (US$164m) with attendance likely to drop by 29 per cent through continued closure from the coronavirus pandemic. Maybank Research has revised its previous estimate of 12m visitors in 2021 to just 8.5m with the casino located…
Malaysia – Maybank analyst slashes forecasts for Genting Malaysia recovery as COVID cases spike
A recent rise in COVID-19 cases in Malaysia has seen Maybank Research analyst Samuel Yin Shao Yang slash his own estimates which now pitch Genting Malaysia at operating at a loss of MYR384.8m (US$84.6m) in 2021. He has slashed 2022 profit guidance by 17 per cent to MYR1.03bn (US$249.9m) and 2023 estimate by four per…
Malaysia – Revenues plunge by 57 per cent at Genting Malaysia
Genting Malaysia saw its fourth quarter revenue fall by 57 per cent to RM1,041.1m although it achieved positive adjusted EBITDA in FY20 despite ‘unprecedented challenges, anchored by the Malaysian operations.’ EBITDA came in at RM170.4m for Q4 despite the leisure and hospitality business operating at a reduced capacity amid the prevalence of the Coronavirus Disease…
Malaysia – Sportradar pens distribution partnership with Asian Football Confederation
The Asian Football Confederation (AFC) has announced an official partnership with Sportradar for worldwide data and associated media rights for major AFC competitions for the cycles 2021-2024 and 2025-2028. Under the agreement, Sportradar becomes the official video and data distribution partner for major AFC national team and club competitions including the AFC Asian Cup China…
