Latest news with #RWG
The Star
22-07-2025
- Business
- The Star
Resort, service provider link booking systems for seamless trips in Malaysia
(From left) Boon, Lee and Liu with the signed agreements. AN integrated resort and a global travel service provider have signed two landmark memoranda of understanding to strengthen their strategic collaboration. The agreements between Resorts World Genting (RWG) and Group aim to boost Malaysia's inbound travel, leveraging the latter's global audience as RWG's top supporting online travel agency (OTA). The agreements marked a major milestone in connectivity, marketing innovation and market-specific engagement, reflecting a commitment to delivering seamless, personalised and elevated travel experiences for international tourists, according to a media statement by RWG. One feature is the direct integration between and RWG's hotel and theme park booking systems, enabling real-time inventory updates, instant confirmations and rate parity across platforms, providing a streamlined booking experience. customers will enjoy exclusive offers and enhanced convenience when planning their visit to RWG. RWG sales, marketing and public relations executive vice-president Spencer Lee said, 'We are witnessing strong travel momentum across the region, especially Malaysia, and our partnership with enhances our ability to meet this growing demand. 'We are well-positioned to offer a streamlined travel journey supported by exceptional leisure, hospitality and entertainment offerings.' There will also be a series of marketing campaigns to drive awareness of RWG among international travellers, with a focus on the Asian market. These collaborative campaigns, ranging from flash sales to member-exclusive deals, will be powered by traveller insights and vast marketing ecosystem. 'We are delighted by this strengthened partnership with RWG, enhancing our product offerings with one of Malaysia's most recognised hospitality brands,' said Boon Sian Chai, managing director and vice-president of international markets. 'Malaysia is a key growth market for and this collaboration reflects our ongoing commitment to supporting its tourism sector. 'As a one-stop travel platform, we are focused on delivering a seamless end-to-end user experience, from planning to booking to travelling.' attractions and tours general manager Chase Liu said, 'We are proud to be the first OTA to implement direct integration with RWG, which will make it even easier for our customers to easily discover and experience local hotspots. 'We are confident that our joint efforts will not only boost RWG's presence in key international markets, but also further reinforce as a leading travel services provider providing access to top-tier attractions.' The collaboration was also a strategic move in anticipation of Visit Malaysia 2026, supporting Tourism Malaysia's mission to promote the country as a top travel destination, the statement added.
The Sun
10-07-2025
- Business
- The Sun
RWG and Visa launch ‘Vacation Vibes' with exclusive perks for cardholders
KUALA LUMPUR: Resorts World Genting (RWG) has teamed up with Visa to launch the 'Vacation Vibes' campaign, offering exclusive benefits for Visa cardholders. The initiative provides discounts on hotel accommodations, dining, and select concerts at the Arena of Stars, reinforcing RWG's commitment to enhancing guest experiences. Genting Malaysia Berhad stated that the partnership leverages Visa's global network to deliver seamless, contactless transactions and real-time rewards. Visa cardholders can enjoy up to 25% off stays at premium hotels, including Crockfords, Resort Hotel, and Genting SkyWorlds Hotel, until November 1. Dining discounts of 20% are also available at participating outlets such as Old Friends Restaurant, Harry Ramsden, and Park Avenue Lounge, with a minimum spend of RM200 per receipt. Alternatively, spending RM500 at Burger & Lobster unlocks the same benefit. Spencer Lee, RWG's Executive Vice-President of Sales, Marketing, and Public Relations, highlighted the campaign's focus on delivering exclusive privileges and seamless experiences. 'This collaboration ensures our guests enjoy unforgettable vacations at Resorts World Genting,' he said. Visa Malaysia's Head of Sellers, Lim Gaik Lin, emphasised the value of the partnership, stating, 'By working with RWG, we provide Visa cardholders unmatched convenience, security, and added perks with every transaction.' RWG, Malaysia's leading integrated resort, boasts over 10,500 rooms across seven hotels, alongside gaming, theme parks, retail, and convention facilities. For details, visit or its official social media channels. - Bernama
The Star
29-05-2025
- Business
- The Star
Genting's 1Q25 revenue drops to RM6.5bil
The company said it will also include new ecotourism experiences at Genting Highlands. PETALING JAYA: Genting Bhd will introduce new facilities and attractions in an attempt to enhance Resorts World Genting's (RWG) stature as a regional tourism hub. In a filing with Bursa Malaysia, the company that mainly operates in the resorts industry said it will also include new ecotourism experiences at Genting Highlands. 'We will continue to place emphasis on driving key business segments by improving yield management systems, operational efficiencies and service delivery, while adopting prudent cost management and an agile approach to navigate the increasingly challenging operating environment,' it said. For the first quarter of this year (1Q25) Genting's revenue dropped to RM6.5bil from RM7.4bil in the previous corresponding period, while net profit fell to RM4.5mil from RM588.87mil a year earlier. The decrease was due to its leisure and hospitality segment, as well as the strengthening of the ringgit against the Singapore dollar, US dollar and British pound. Within Malaysia, RWG contributed lower revenue in the quarter under review on the back of the timing of the festive season this year and lower business volumes in the premium-players segment. In Singapore, Resorts World Sentosa registered lower revenue due to a lower VIP rolling win rate and the temporary closure of Hard Rock Hotel for renovations and rebranding work. As for its plantation segment, revenue and earnings before interest, taxes, depreciation and amortisation were higher for the quarter mainly attributable to higher palm product prices and improved sales volume for the downstream manufacturing segment. 'Palm oil prices have since eased, driven by the seasonal recovery in production and the expected buildup in palm oil stocks,' the group noted. Moving forward, the group said it will continue to be cautiously optimistic about the near-term prospects of the leisure and hospitality industry and remains positive in the longer-term. As for its UK market, the recent acquisition of Aspers Stratford in London is expected to strengthen its foothold in the city's casino market. In the United States, it will solidify its position as a market leader in the increasingly competitive New York State gaming sector. Additionally, in the Bahamas, it will drive visitation at RW Bimini by expanding its cruise strategy, which includes increasing port calls from international operators and intensifying marketing and promotional efforts. Meanwhile, the group's subsidiary Genting Malaysia Bhd (GenM) similarly saw a decrease in its revenue for 1Q25 at RM2.6bil compared to RM2.76bil in the same quarter last year. The group said revenue from Malaysia, the United Kingdom, Egypt, the United States and Bahamas's leisure and hospitality business saw a lower topline for the quarter under review. In Malaysia, a 7% decline in revenue was recorded, reflecting an industry trend that is observed in similar markets in the immediate region, particularly in the premium players segment. Its net profit however was higher at RM72.58mil compared to RM57.78mil recorded in the same quarter last year. 'The US dollar denominated borrowings gave rise to a net unrealised foreign exchange translation gain of RM50.4mil in 1Q25 compared with net unrealised foreign exchange translation losses of RM130mil in 1Q24,' it said.
The Star
29-05-2025
- Business
- The Star
Genting to introduce new facilities and attractions at Resorts World Genting
PETALING JAYA: Genting Bhd will introduce new facilities and attractions in an attempt to enhance Resorts World Genting's (RWG) stature as a regional tourism hub. In a filing to Bursa Malaysia, the company that mainly operates in the resorts industry said it will also include new ecotourism experiences at Genting Highlands. 'We will continue to place emphasis on driving key business segments by improving yield management systems, operational efficiencies and service delivery, while adopting prudent cost management and an agile approach to navigate the increasingly challenging operating environment,' it said. For the first quarter ended March 31, 2025 (1Q2025) Genting's revenue dropped to RM6.5bil from RM7.4bil in the previous corresponding period, while net profit fell to RM4.5mil from RM588.87mil a year earlier. The decrease was due to its leisure and hospitality segment, as well as the strengthening of the ringgit against the Singapore dollar, US dollar and British pounds. Within Malaysia, its RWG contributed lower revenue in the quarter under review on the back of timing of the festive season and lower business volumes in the premium players segment. In Singapore, Resorts World Sentosa registered a lower revenue due to a lower VIP rolling win rate and the temporary closure of Hard Rock Hotel for renovations and rebranding works. As for its plantation segment, revenue and earnings before interest, taxes, depreciation, and amortisation were higher for this quarter mainly attributable to higher palm product prices and improved sales volume at the downstream manufacturing segment. 'Palm oil prices have since eased, driven by the seasonal recovery in production and the expected buildup in palm oil stocks,' the group noted. Moving forward, the group said it will continue to be cautiously optimistic of the near-term prospects of the leisure and hospitality industry and remains positive in the longer-term. As for its UK market, the recent acquisition of Aspers Stratford in London is expected to strengthen its foothold in the city's casino market. For the US, it will solidify its position as a market leader in the increasingly competitive New York State gaming sector. Additionally, in the Bahamas, it will drive visitation at RW Bimini by expanding its cruise strategy, which includes increasing port calls from international operators and intensifying marketing and promotional efforts. Meanwhile, the group's subsidiary Genting Malaysia Bhd (GENM) similarly saw a decrease in its revenue for 1Q2025 at RM2.6bil compared to RM2.76bil in the same quarter last year. The group said revenue from Malaysia, UK, Egypt, US and Bahamas's leisure and hospitality business saw a lesser topline for the quarter under review. In Malaysia, a 7% decline in revenue was recorded, reflecting an industry trend that is observed in similar markets in the immediate region, particularly in the premium players segment. Its net profit however was higher at RM72.58mil compared to RM57.78mil recorded in the same quarter last year. 'The US dollar denominated borrowings gave rise to a net unrealised foreign exchange translation gain of RM50.4mil in 1Q2025 compared with net unrealised foreign exchange translation losses of RM130mil in 1Q2024,' it said. Moving forward, GENM said recovery is anticipated to be uneven across regions, causing the regional gaming market to face some challenges.
New Straits Times
29-05-2025
- Business
- New Straits Times
Genting's Q1 earnings plunge to RM4.5mil versus RM588.7mil a year ago
KUALA LUMPUR: Genting Bhd's net profit tumbled to RM4.57 million in the first quarter to March 31 2025 from RM588.87 million a year ago. Group revenue stood at RM6.51 billion, down 12 per cent from the previous year's corresponding quarter of RM7.43 billion. Genting attributed the lower revenue mainly to the leisure and hospitality division. The group's adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) for Q1 2025 of RM1.99 billion was lower than the RM2.57 billion posted in Q1 2024. The strengthening of the ringgit against Singapore dollar, pound sterling and US dollar partly contributed to the lower group revenue and Ebitda. Genting said Resorts World Sentosa (RWS) recorded lower revenue and profit. "The results for Q1 2025 was affected by a lower VIP rolling win rate and the temporary closure of Hard Rock Hotel for renovation and rebranding works, which led to a reduction in available room inventory. "RWS' performance was also weaker in comparison with Q1 2024 where Singapore saw stronger visitorship and tourism spending during the Chinese New Year festive season along with the relaxation of visa regulations between China and Singapore in February 2024." Resorts World Genting (RWG) recorded lower revenue over 1Q24, due to the timing of the festive season and lower business volumes in the premium players segment in Q1 2025. Revenue from the group's leisure and hospitality businesses in the United Kingdom and Egypt was lower due to strengthening of the ringgit against pound sterling. However, a lower Ebitda was recorded primarily due to higher operating and payroll related expenses in Q1 2025. The leisure and hospitality businesses in the United States of America and Bahamas included the inancial results of Resorts World New York City (RWNYC), Resorts World Bimini (RW Bimini) and Resorts World Las Vegas (RWLV). Revenue recorded by RWNYC was lower due to stronger ringgit against the US dollar. RWLV's revenue and Ebitda were impacted by lower hold percentage and lower visitation compared with the record visitation benefited from NFL Super Bowl event in Q1 2024. Hotel occupancy and average daily rate in Q12025 were 82.3 per cent and US$274 respectively compared with 89.1 per cent and US$298 in Q1 2024. Genting said its performance for the remaining period of the 2025 financial year may be impacted by the global economic conditions and market volatility. "In Malaysia, economic growth is expected to expand at a slower pace as heightened geopolitical tensions continue to weigh on both domestic and global sentiments. "Despite ongoing global uncertainties, demand for international tourism is expected to remain resilient, although recovery is anticipated to be uneven across regions. Consequently, the regional gaming market may face increasing challenges," it added. In Malaysia, the group remains focused on enhancing RWG's appeal as a regional tourism hub by introducing new facilities and attractions, including new ecotourism experiences at Genting Highlands. "Celebrations to commemorate the Genting Group's 60th anniversary are underway, featuring a variety of special events, promotions and activities designed to engage visitors and enrich their experience at RWG," it added.
