Resorts World Genting Inaugurates New Casino
Resorts World Genting (RWG), Malaysia's sole casino resort, has unveiled a new mass gaming area as part of its ongoing upgrades. According to observations made by Maybank Investment Bank Bhd during a site visit just before the New Year, the newly launched gaming zone is labeled "Genting Casino" and features two distinct thematic areas. The new gaming addition comes amidst ongoing renovations across the resort.
LISTEN TO THIS ARTICLE:The Genting Casino area has been designed with two themes. One section mirrors the style of Sky Casino with bronze-colored fittings and light green carpeting, while the other adopts a traditional Chinese design.
Related: Resorts World Genting Announces Surprise Closure of Two CasinosThis dual-themed layout aims to offer diverse experiences to cater to various preferences among guests. The gaming zone includes lower-yield slot machines and electronic tables, which require fewer staff and, therefore, generate higher margins compared to conventional table games.
The new Genting Casino features 36 conventional table games, primarily offering baccarat and roulette, alongside tables for stud poker, Texas Hold'em, sic bo and other games. The minimum table bets range from MYR10 (approximately US$2.22) to MYR100. The gaming floor currently lacks smoking lounges, which could impact the length of time players spend gambling as they must leave the casino to smoke.
The launch of the Genting Casino adds to the resort's overall gaming capacity but remains relatively small compared to the previously operational Circus Palace and Hollywood gaming zones. These two mass gaming areas have been closed since February 2023, and while renovations appear to be underway, no reopening date has been announced.
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A Small Step Forward
The new gaming area represents less than 10% of the total capacity of the resort from when the Circus Palace and Hollywood floors were active. According to Maybank analyst Samuel Yin Shao Yang, the reopening of these areas in full could significantly boost earnings forecasts by approximately 20% annually.
Despite the addition of the Genting Casino, Maybank has maintained its reduced projections for Resorts World Genting's mass-market gross gaming revenue (GGR) for 2025. In November, the bank cut its full-year GGR forecast for the resort by 25 percent. The new gaming area, while a positive development, has not been considered sufficient to warrant an upward revision in earnings estimates at this stage.
Resorts World Genting is undergoing extensive renovations as part of the Genting Integrated Tourism Plan (GITP). The multi-phase development project includes the addition of 1,536 hotel rooms, an outdoor theme park, an indoor theme park, a shopping mall, a plaza, and a new cable car system. These upgrades are aimed at enhancing the resort's overall appeal and capacity to attract visitors.
Genting Malaysia Bhd, which operates Resorts World Genting, generates approximately 80 percent of its group earnings from the Malaysian property. In addition to its operations in Malaysia, the company manages gaming establishments in the US, the Bahamas, and the UK. The ongoing upgrades at Resorts World Genting form part of the company's broader strategy to strengthen its global gaming and hospitality portfolio.
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