Meanwhile, unemployment was around 5.3 per cent in May with over 826,000 out of work. At the end of 2019, the rate was 3.3 per cent.


Resorts World Genting was closed down on March 18 and re-opened on June 19 with enhanced safety measures in place. Initially, entry into SkyCasino and Genting Club was restricted to Genting Rewards members only. Te casino also launched the MySejahtera Check-in so visitors can register via the App prior to their visit.


Te occupancy rate at the resort’s six hilltop hotels was 95 per cent last year, whilst forecasts predicted that if the market recovery begins this year, 2020 group revenues would be just under RM4.38bn – about half of the group’s revenues last year. However, it has been predicated that annual revenues for Genting Malaysia may not return to 2019 levels until at least 2022 as a result of the Covid-19 pandemic.


Te 2019 group revenues were just under RM10.41bn ($2.38bn) up from RM9.92bn in 2018. Gaming operations account for around RM7.65bn with non-gaming (hotels, food, transport) make up the remaining. Tis covers Malaysia, UK and Egypt and the US and Bahamas. Malaysia is the company’s biggest earner and revenues for this region amounted to RM7.18bn compared to RM6.67bn in 2018.


Te fourth quarter revenues saw group revenues of RM1.60bn, a 24 per cent drop whilst the Q1 2020 revenues (ending March 31 2020) saw group revenues of RM1.95bn compared to RM2.73bn for the same period in 2019 (a 29 per cent drop). Revenues for the Malaysia resort alone was RM1.22bn compared to RM1.90bn for the same period in 2019, a 36 per cent difference.


Te first quarter 2020 review stated: “Te COVID- 19 pandemic and the preventative measures taken


NEWSWIRE / INTERACTIVE / MARKET DATA P59


If the market recovery begins this year, 2020 group revenues would be just under RM4.38bn – about half of the group’s revenues last year. However, it has been predicated that annual revenues for Genting Malaysia may not return to 2019 levels until at least 2022 as a result of the Covid-19 pandemic.


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