KUALA LUMPUR, May 29 — Genting Bhd’s pre-tax profit for the first quarter (Q12017) ended March 31, 2017 rose to RM1.46 billion from RM542.73 million registered in the same period a year ago.
The increase was due mainly to higher earnings before interest, tax, depreciation and amortisation (EBITDA) and a gain of RM302.2 million recognised from the completion of the disposal of Genting Singapore PLC Group’s 50 per cent interest in its associate, Landing Jeju Development Co, Ltd.
Revenue increased to RM4.77 billion compared with RM4.70 billion previously, it said in a filing to Bursa Malaysia today.
The group said Resorts World Sentosa recorded higher revenue in Q1 2016, contributed mainly by the stronger Singapore dollar exchange rate to the Malaysian ringgit.
It said the leisure and hospitality business in the United States and Bahamas also recorded higher revenue and EBITDA from Resorts World Casino New York City (RWNYC) due to an improved commission structure with the NY state authority on its gaming operations. — Bernama
