Genting Malaysia profit doubles in Q2

Genting Malaysia has seen a 104% year-on-year increase in profit to RM378.3m ($92m) for the second quarter of 2018, despite a decline in VIP volume.  

The casino operator's revenue also rose 6% to RM2.42bn, while adjusted EBITDA went up 24% to RM540m.

H1 results also saw a spike, as revenue and adjusted EBITDA rose by 14% and 23% to RM3.19bn and RM1.07bn respectively.

Genting Malaysia owns three casinos; Resorts World Kijal in Terengganu and Resorts World Langkawi on Langkawi Island and Resorts World Genting in Pahang.

The rise was made attributable to the increase in business at Resorts World Genting, which saw an 18% rise in customers, and a higher hold rate of mid to premium players.

Net group profit, which includes operations in the UK, Egypt, US and Bahamas, improved by 54% to RM720m.