Genting Malaysia‘s second-quarter revenue jumped 32% as a surge in its U.S. and Bahamas business and the expansion of Resorts World New York City (RWNYC) offset weaker revenue from its Malaysian and European operations.
Revenue rose to MYR3.85 billion ($952 million) in the three months to June 30, with the U.S. and Bahamas segment reporting a 166% increase to MYR1.53 billion ($378 million).
The growth came as RWNYC launched downstate New York’s first casino table games on April 28, initially offering 242 table games and 2,500 slot machines. The property added a further 1,400 slot machines last month, while Genting broke ground in late July on the next phase of its planned $5.5 billion expansion.
Nomura analysts said U.S. revenue rose 121% from the first quarter, while adjusted EBITDA increased 169% sequentially.
The revenue growth came despite a sharp fall in profit, as costs associated with the RWNYC launch weighed on results. Genting Malaysia’s profit fell to MYR27.0 million ($6.7 million) from MYR398.1 million a year earlier.
Group adjusted EBITDA declined 18% to MYR844 million ($209 million), reflecting RWNYC opening costs and a foreign-exchange loss compared with a substantial gain in the year-earlier period.
At Resorts World Genting (RWG) in Malaysia, revenue fell 1% year-on-year to MYR1.77 billion ($438 million), although it increased 6% from the previous quarter. Adjusted EBITDA rose 20% sequentially to MYR615 million, helped in part by a higher VIP win rate.
Nomura analysts Tushar Mohata and Alpa Aggarwal described the Malaysian result as a “positive surprise, given the disruptions caused by the war in the Middle East to flights and tourist arrivals.”
Genting Malaysia cautioned that geopolitical tensions and rising travel costs could continue to weigh on tourism.
“The global economic environment remains uncertain, as renewed geopolitical tensions in the Middle East and macroeconomic risks continue weighing on the growth outlook,” the company said.
“For Malaysia, regional and domestic tourism are expected to remain under pressure as higher airfares and travel-related fuel costs continue to weigh on consumer travel decisions,” it added.
The company said it would focus on operational discipline and yield management while continuing to invest selectively in its Malaysian resort offerings.
Resorts World Las Vegas (RWLV), another major U.S. property, also posted year-on-year growth in the second quarter, with revenue up 1% to $181 million and EBITDA up 33% to $24 million.
The Las Vegas property benefited from stronger convention attendance and increased high-end casino play. Hotel occupancy rose to 88.0% from 80.2% a year earlier, while average daily rate increased to $274 from $265.
RWLV’s results were weaker sequentially, however, with revenue falling 13% from the first quarter and EBITDA declining to $50 million.
Genting Bhd expects convention booking trends at RWLV to remain strong and gaming results to improve as it expands high-end hosted casino play and resort marketing initiatives.
“RWLV remains focused on improving margins through refining productivity and optimising the fixed cost structure,” the company said
Original article: https://www.yogonet.com/international/news/2026/08/21/126030-genting-malaysia-q2-revenue-jumps-32-as-us-revenue-surges-166-
