- Genting Berhad Reports 12% Revenue Drop in Q1 2025
Revenue of Genting Group in the initial quarter fell to RM6.51 billion.
Malaysian conglomerate Genting Berhad has announced a 12% decline in group revenue for the first quarter of 2025, reporting a total of RM6.51 billion (approximately €1.35 billion). This decrease is primarily attributed to a downturn in the Leisure & Hospitality Division, which encompasses global casino and integrated resort operations.
Several factors have contributed to the drop in revenue:
- Weaker Performance Across Multiple Locations: Integrated resorts and casino properties in Malaysia, Singapore, the United Kingdom, Egypt, the United States, and the Bahamas experienced softer results.
- Resorts World Genting (Malaysia): The property suffered from unfavorable timing of festive seasons and a marked decline in business volumes among premium players, leading to decreased revenue and a fall in adjusted EBITDA.
- Resorts World Sentosa (Singapore): The property faced challenges due to reduced VIP rolling win rates, a temporary closure for renovations at the Hard Rock Hotel, which lowered room inventory, and a difficult comparison with a robust Chinese New Year period from the previous year.
- Other Markets: International operations, including the UK, Egypt, the US, and the Bahamas, also reported lower revenue, impacting the group's overall performance.
Collectively, these factors led to the 12% year-on-year revenue decline for the group in Q1 2025.
The drop in revenue experienced by Genting Berhad can be partially attributed to challenges in the finance sector, as weaker performance was observed across multiple locations, including those in the global finance hubs of the United Kingdom and the United States. Additionally, the Leisure & Hospitality Division's operations, which include integrated resorts and casinos, rely heavily on the funding and resources provided by the finance industry, making its health a critical factor in the industry's performance.
