Resorts World Genting to ramp up operational capacity while optimising costs

KUALA LUMPUR (March 9): Resorts World Genting will ramp up operational capacity by leveraging its existing assets, and optimise its cost base to drive productivity and efficiency, its parent Genting Malaysia Bhd said ahead of the reopening of the country's borders on April 1.

“Progressive roll-out of the remaining attractions at Genting SkyWorlds is a focus,” the casino and hotel operator said, noting the reopening of Malaysia's borders will further support the group's recovery as improved Covid-19 vaccination rates drive optimism of domestic economic growth.

In a corporate presentation for the Nomura Asean Virtual Conference 2022 last Friday, it said proactive management of the group's cost structure is to better adapt to the fluid operating environment, but that "Health and safety of guests, employees and the community remain a key priority".

Touching on its businesses in the United Kingdom and Egypt, it said that it would execute strategies to strengthen the resilience of the group’s business and optimise efficiencies, while ramping up operations in line with demand.

On its businesses in the United States and Bahamas, it said it would strengthen the group’s leading market position in New York.

According to Genting, the new Hyatt Regency JFK Airport at Resorts World New York hotel would be a catalyst for growth. At the same time, it would leverage synergies between Resorts World New York City (RWNYC) and Resorts World Catskills (RWC) to develop and grow a strong market presence.

The development of RW Hudson Valley, at Orange County, is on track for opening in summer 2022.

The group plans to expand product offerings by leveraging Empire Resorts Inc’s newly awarded mobile sports betting licence.

As for Resorts World Bimini (RW Bimini), it plans to leverage partnerships with renowned brands to grow visitation and spend through increased port calls at the new RW Bimini Cruise Port.

At 10.25am, Genting Malaysia Bhd was up one sen or 0.35% to RM2.90, valuing the group at RM16.86 billion.

Genting Bhd rose three sen or 0.68% to RM4.43, valuing the group at RM17.21 billion.

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