Wednesday, October 16, 2024 - Login

Genting Malaysia loses US$96 million in 20Q1 over Covid-19

Genting Malaysia has recorded a net loss of almost RM418 million (about US$96 million) in the first quarter of 2020 compared with a net profit of more than RM268 million a year ago.

The group’s revenue also declined by 29 percent to RM1.96 billion from RM2.74 billion.

The company attributed its losses to the impact of Covid-19 on its operations both within Malaysia and worldwide.

“The pandemic has been absolutely devastating to the tourism industry across the world,” the company statement noted.

It also noted that the group would continue to implement aggressive cost-cutting measures in order to weather the crisis.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief