Genting Malaysia, the renowned global leisure and hospitality company, has received good news from the analysts at Hong Leong Investment Bank, who expect the casino operator to recover well in the second half of 2022.
Hong Leong Investment Bank is one of the top financial institutions in Malaysia and its analysis of Genting Malaysia concluded that stock market investors should buy shares in this company at the moment.
Genting Malaysia did return to profitability in the first quarter of 2022, but the actual figures missed analysts’ expectations. That failure was due, according to analysts at Hong Leong, to a mismatch between supply and demand on the market. While Genting Malaysia was spending more money in order to open their resort, demand dropped due to the spread of the Omicron variant of the novel coronavirus.
However, now the pandemic situation seems under better control, which is a very good sign for the company. Genting Malaysia is the only casino operator in the country, owning a recently revamped resort in the Genting Highlands.
The company spent nearly 2.5 billion dollars to boost the capacity of its property, adding more hotel rooms and expanding the casino as well. Moreover, Genting unveiled the SkyWorlds theme park at this venue in February.