Group-wide revenue shows increase of 14 per cent
Resorts World Las Vegas, Genting Berhad’s leading US casino, fell again in the third quarter, with revenue falling one per cent year-on-year to $175m with Nomura analysts saying this was due to ‘ongoing business recalibration and management/policy changes.’
The leisure and hospitality businesses in the United States of America and Bahamas included the financial results of Resorts World New York City, Resorts World Bimini, Resorts World Omni, Genting Empire Resorts and Resorts World Las Vegas. Revenue from the US and Bahamas, excluding the revenue from RWLV, was higher primarily due to consolidation of GERL Group contributing revenue of RM332.8m, partly offset by the strengthening of RM against USD. Consequently, a higher EBITDA was recorded primarily due to consolidation of GERL Group’s EBITDA in 3Q25. RWLV’s revenue and EBITDA in 3Q25 were impacted by lower visitation and macroeconomic uncertainty which affected the overall visitation volume across Las Vegas. Hotel occupancy and Average Daily Rate (ADR) in 3Q25 were 83.8 per cent and US$242 respectively compared with 85.1 per cent and USD$244 in 3Q24.
Genting said: “In Las Vegas, despite the decline in visitor volume, convention attendance is expected to reach record high in 2026, as the Las Vegas Convention Center (LVCC) will complete its final phase of a USD600m expansion by end of 2025, increasing its capacity from 1.9 million square feet to 2.5 million square feet. The newly completed LVCC will attract a number of large conventions in 2026 and RWLV is expected to benefit due to its close proximity to the LVCC. RWLV continues to see improvements in high-end play with increased table volumes and hold percentage within range. RWLV remains focused on re-establishing VIP play and building a consistent casino loyalty base. In addition, RWLV will continue to
leverage the new hotel system, which now allows RWLV to own the hotel customer database, giving
RWLV flexibility to provide real-time hotel offers and enhanced customer experience to guests. Combined with investment in an upgraded casino offer management system, RWLV will yield a stronger customer
mix via casino, convention and direct bookings.
“RWLV remains focused on improving margins through strategic growth and operational efficiencies. The property will leverage its enhanced hotel system to extend its reach to customers and implement tailored casino offerings to drive repeat visitation. Additionally, RWLV is actively growing high-end hosted casino play and will continue its casino and resort marketing initiatives to attract high-value guests, while strengthening its convention business with established and new groups of customers. Investments in new dining concepts, entertainment and retail will further drive engagement and operating leverage.”
The operator performed much better in Singapore, where Resorts World Sentosa (RWS) delivered a robust result in 3Q25, posting revenue of RM2,139.3m and EBITDA of RM759.4m, representing a year-on-year growth of 13 per cent and 35 per cent, respectively. The uplift was driven by improved VIP rolling volume and win rate, and continued growth across non-gaming business.
In 3Q25, Group revenue was RM7,478.3m, an increase of 14 per cent compared with the previous year’s corresponding quarter’s revenue of RM6,544.9m. The Group’s adjusted earnings before
interest, tax, depreciation and amortisation for 3Q25 of RM2,157.1m was lower than RM2,316.4m in 3Q24. The strengthening of RM against SGD, GBP and USD partly contributed to the decrease in revenue and EBITDA of the Group.
Resorts World Genting (RWG) recorded higher revenue and EBITDA in 3Q25 over 3Q24 mainly due to overall higher business volume from the gaming segment. Revenue from the leisure and hospitality businesses in the United Kingdom (UK) and Egypt in 3Q25 was higher primarily due to contribution from the newly acquired Stratford casino, partly offset by the strengthening of RM against GBP. However, lower EBITDA was reported primarily due to lower business volume and higher operating and payroll related expenses in 3Q25.
The operator said: “In the UK, GENM Group has begun rolling out additional gaming machines across its casinos, following legislative changes that increased gaming machine allocations in casinos. GENM Group will continue to place emphasis on disciplined cost management and operational efficiency to drive resilience amid uncertainties in the operating environment, and will continue to invest in new products and experiences to enhance customer offerings and attract new visitors.”
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Group-wide revenue shows increase of 14 per cent Resorts World Las Vegas, Genting Berhad’s leading US casino, fell again in the third quarter, with revenue falling one per cent year-on-year to $175m with Nomura analysts saying this was due to ‘ongoing business recalibration and management/policy changes.’ The leisure and hospitality businesses in the United States…
The post Resorts World Las Vegas shows further fall for Genting due to ‘ongoing business recalibration’ appeared first on G3 Newswire.