Genting Malaysia reported higher revenue for both the second quarter and first half of 2026, supported by the ongoing rollout of full commercial casino operations at Resorts World New York City (RWNYC). However, higher operating costs, development expenses, and financing costs associated with the project continued to weigh on profitability.
For the six months ended June 30, the group generated RM6.72bn in revenue, up 22% from the same period last year. The increase reflected contributions from RWNYC's expanded gaming operations, as well as a full six-month contribution from Genting Casino Stratford and Empire Resorts, both acquired in 2025.
Despite stronger revenue, first-half adjusted EBITDA fell 16% to RM1.49bn, while profit before tax dropped 73% to RM186.9m. Net profit declined to RM1.8m, compared with RM450.1m a year earlier.
The company attributed the weaker earnings to higher operating and payroll costs across its markets, increased depreciation and financing expenses related to RWNYC's development, and the absence of significant foreign exchange gains recorded last year.
Genting Malaysia H1 Revenue (RM M)
In the second quarter alone, revenue rose 32% to RM3.85bn, while adjusted EBITDA, excluding foreign exchange movements, increased 2%. However, reported net profit fell to RM27m from RM398.1m in the prior-year period.
Performance varied across the group's operating regions. Resorts World Genting in Malaysia reported slightly lower revenue as softer visitation and consumer spending offset stable operating margins.
The UK and Egypt businesses also experienced weaker premium gaming demand amid continued geopolitical uncertainty, while the US and Bahamas operations delivered the strongest growth following the launch of live table games and slot machines at RWNYC.
The group said it remains cautious about the near-term outlook as geopolitical tensions, inflation, and higher travel costs continue to pressure tourism and discretionary spending. Nevertheless, it plans to continue investing selectively in new attractions and infrastructure while maintaining disciplined capital management.
In New York, RWNYC's expansion remains a key growth driver, with an additional 1,400 slot machines introduced in July as development continues toward a full-scale integrated resort.
The board did not declare an interim dividend for the period.
Genting Malaysia added 1,400 slot machines at Resorts World New York City in July as it continued expanding the property's commercial casino operations
