Genting Malaysia First Quarter Financials Up

Casino betting group Genting Malaysia Berhard released their first quarter financial results, revealing that Net Profit Growth was up 15.8% during the quarter.

Key financial indicators for the first quarter ending March 31st, 2018 were:

  • Profits MYR342.1 million, up from MYR323.9 million last year
  • Pre-tax Profit up 15% to MYR397.5 million
  • Adjusted EBITDA up 8% to MYR607.7 million
  • Lower revenues in the U.S. and Bahamas, as the dollar fell in value against the Ringitt.
  • UK and Egypt revenues down 12% to MYR54.9 million

The company also announced that they've opened new facilities and attractions across their properties, which helped boost revenues. The group is also eyeing a $400 million expansion of their Resorts World Casino New York City property.

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bgsharpe
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30 May 2018 - 1:52pm
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To be honest this is the first when I'm hearing of this group but apparently they doing more than well if a $400 million expansion of their property is being planned, sounds huge.