Genting Malaysia reports a US$87 million loss in Q2, despite rising revenues

Genting Malaysia reported a net loss of MYR366.7m (US$87.4m) in the three months to 30 June 2021, down from a loss of MYR923.2m (US$220.1m) in the same period last year, owing to higher revenues in all of its key markets.

Even after COVID-19 closures in Malaysia, the US, the UK, and Egypt, Genting Malaysia reported a 700% year-on-year increase in group-wide revenue to MYR817.9m (US$195.0m) in 2Q21. The Adjusted EBITDA was MYR45.6 million (US$10.9m) versus an EBITDA loss of MYR486.2m (US$115.9m) a year earlier.

Resorts World Genting in Malaysia suspended operations on 1 June. Still, revenue increased from MYR82.2m (US$19.6m) to MYR237.9m (US$56.7m).

Revenue in the US and the Bahamas increased from zero to MYR352.9m (US$84.1m), with Adjusted EBITDA of MYR109.3m (US$26.1m).

 

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Nassima Azmzm

Nassima Azmzm

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