Group Reports RM6.5bn in Revenue, Net Profit Down Significantly
Genting Bhd has reported a year-on-year revenue decline for the first quarter of 2025, with earnings falling to RM6.5 billion (US$1.38 billion) from RM7.4 billion in Q1 2024. The group’s net profit plummeted to RM4.5 million, down sharply from RM588.87 million a year ago.
The decline is attributed to lower contributions from its flagship leisure and hospitality businesses, including Resorts World Genting in Malaysia and Resorts World Sentosa in Singapore, as well as foreign exchange losses tied to unfavourable currency movements.
Malaysian and Singaporean Resorts Report Lower Revenues
In Malaysia, Resorts World Genting experienced a softer performance, impacted by the timing of festive seasons and a drop in activity from premium players. Meanwhile, Resorts World Sentosa in Singapore posted reduced revenue, citing a lower VIP win rate and ongoing renovation works at the Hard Rock Hotel.
Despite this, Genting Malaysia Bhd (GenM)—a key subsidiary of Genting Bhd—recorded an increase in net profit for the quarter. GenM’s revenue dipped slightly to RM2.6 billion from RM2.76 billion, but net profit rose to RM72.58 million, up from RM57.78 million in Q1 2024. This improvement was largely driven by a net unrealised foreign exchange gain of RM50.4 million from its US dollar borrowings, reversing prior-year losses.
Plantation and International Assets Offer Some Relief
Genting’s plantation segment helped offset some of the group’s financial pressures. The division reported stronger revenue and EBITDA, supported by higher palm product prices and improved downstream sales volume.
On the international front, the company noted progress in strategic expansions, including the acquisition of Aspers Stratford in London and a boost in its cruise line business in the Bahamas.
Strategic Focus: Efficiency and Ecotourism
In its forward-looking statement, Genting emphasised a commitment to operational efficiency and prudent cost management. The group also signalled further investment in new ecotourism experiences at Genting Highlands, positioning itself to tap into evolving travel trends.
