US Biz a Double-Edged Sword for Genting Malaysia

US biz a double-edged sword for Genting Malaysia

Its Q2 net profit plunged 89% due primarily to surging costs as its New York resort commenced full casino operations.

Genting Malaysia reports 166% rise in US segment revenue to US$378 million in 2Q26 after Resorts World New York City opening, lifting group results

Costs related to the launch of full casino operations at Resorts World New York City (RWNYC) in April saw Genting Malaysia report a narrowed profit of MYR27.0 million (US$6.7 million) in the three months to 30 June 2026, down from MYR398.1 million (US$98.4 million) a year earlier. However, it also saw revenue soar. While Genting Malaysia did not break down its US revenue by property, the company’s US and Bahamas segment reported a 166% year-on-y…

Genting Malaysia returns to profit in Q2 2026

In the second quarter of 2026, Genting Malaysia returned to the profit column significantly bolstered by the full-scale commercial launch of casino service inside Resorts World New York. The company booked a net profit of RM27 million as compared to a net loss of RM25.2 million for the first quarter of the year. The revenue increased 32% year on year to RM3.85 billion compared to RM2.91 billion during the same quarter of 2025. On the other hand,…

Genting Malaysia borrowings rise 23% as New York casino costs squeeze profit

Genting Malaysia’s borrowings rose 23% as financing and ramp-up costs for its New York casino expansion weighed on profit. The post Genting Malaysia borrowings rise 23% as New York casino costs squeeze profit first appeared on Asia Gaming News | AGB - Asia Gaming Brief.