GENTING MALAYSIA BERHAD (4715.KL)
- Sector
- Consumer Products & Services
- Price
- RM 1.16 (3.57%)
- Market cap
- 6.6B MYR
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About GENTING MALAYSIA BERHAD
Company Description
Genting Malaysia Berhad (GENM) operates the sole land-based casino gaming license in Malaysia located in Genting Highlands, offering a complete integrated resort experience including hotels, theme parks, entertainment, and shopping. Listed on the Main Market in 1989, it is the key subsidiary of the Genting Group. Internationally, GENM operates over 30 casino licenses in the UK, making it the largest overseas base, and owns casinos in the US (New York) and the Bahamas, along with hotels in Miami and Egypt. The group is led by Chairman and Chief Executive Tan Sri Lim Kok Thay.
Business Model
GENM operates integrated resorts and casinos, generating revenue primarily from gaming operations (mass market and VIP) and non-gaming offerings such as hotels, theme parks, dining, and retail. The Malaysian operations (Resorts World Genting) contribute approximately 80% of group EBITDA, heavily reliant on domestic visitors (80-85%) though foreign tourists have significantly higher spend. Revenue growth is driven by visitor volume and average room rate expansions, particularly during peak tourism periods. Internationally, the UK and US operations contribute the remainder, with the US segment poised for significant growth via the new NYC full-service casino license. The company benefits from a natural currency hedge via high USD-denominated debt against Ringgit strength.
Revenue Segment
For FY2024, the revenue breakdown by business segment was Leisure & Hospitality at 98.0% (RM10,699 million) and Others at 2.0% (RM213 million).
Geographic Segment
For FY2024, the revenue breakdown by geographic segment was Malaysia at 62.6% (RM6,823 million), UK & Egypt at 17.4% (RM1,896 million), and US & Bahamas at 18.2% (RM1,980 million).
Top Client
Domestic day-trippers, foreign tourists (primarily from Singapore, China, and India), local New York State gamers, travellers using John F. Kennedy International Airport, and the local Asian community in New York City.
Operational Scale
In Malaysia, Resorts World Genting operates near full capacity with 99% hotel occupancy and 1,536 hotel rooms under the Genting Integrated Tourism Plan. In the UK, the group operates over 30 casinos. In the US, Resorts World New York City launched with 242 live tables and 2,752 slot machines, with targets to expand to 800 tables and 6,000 slots, alongside a 2,000-room hotel and 7,000-seat entertainment venue by 2030. The NYC facility targets 11m-15m annual visitors.
Associate Companies
Genting Berhad (parent company, 73.8% equity interest). Empire Resorts, which owns Resorts World Catskills, is a fully consolidated subsidiary after GENM acquired the remaining 10% shareholding, having previously been an associate.
Latest GENTING MALAYSIA BERHAD news
- GENM Plunges 46% Below Offer Price, Vindicating This Analyst’s Exit Call Last Year—Which Stocks Is He Bearish On Now?
- Affin Cuts GENTING & GENM to Sell as Rights Issue Offers Little Debt Relief and New York Costs Loom
- TA Securities Upgrades GENM on Recent Pullback; RWNYC Casino Operations Drive Strong 2Q Growth
- One of Malaysia Top Analyst Successfully Predicted GENTING Failed to Privatize GENM — Now He Predicts 3 Stocks Could Jump Over 100%
- GENM New York Casino License Is One Step Away, One of the Best Consumer Analysts Sees RM1.9b Profit Boost Ahead