Genting Malaysia, the massive global leisure and hospitality company, is expected to see a return to profitability for its operations in Malaysia in 2022, at least that is what the experts at RHB Investment Bank have revealed during the first days of the year.
The analysts at RHB Investment Bank have published a note to welcome the New Year and in that note they included the optimistic outlook on the near future of Genting Malaysia. Their analysis is based on the fact that the company has resumed operations after several lockdowns but has done so with reduced operational costs as the business was forced to cut its expenses during the pandemic.
Moreover, even though the Omicron variant of the novel coronavirus is still a threat, the analysts at RHB Investment Bank think that Genting in particular and the whole gaming sector in general is better prepared and has a superior understanding of the Covid-19 pandemic.
“Many countries are now better equipped and nimble in handling the pandemic,” the RHB Investment Bank note read. “Coupled with the massive cost rationalisation efforts undertaken previously by the casino operators, these should partially cushion the impact. Both the casino operators will resume recovering after the Covid-19 situation stabilises.”
Both Genting Berhad and Genting Malaysia are expected to release their results for the 2021 financial year in February, having previously reported losses of MYR326.5 million (approximately 78.3 million dollars) and MYR307 million (72.6 million dollars) respectively in the third quarter of 2021.