Genting Malaysia reported a significant turnaround in its financial performance during the second quarter of 2026, posting a net profit of RM27 million. This result comes after a net loss of RM25.2 million recorded in the first quarter. The company attributed this rebound in profitability to the complete commercial launch of its casino services at Resorts World New York.
Revenue rose sharply by 32% year-on-year, hitting RM3.85 billion, compared to RM2.91 billion in the same quarter of 2025. However, despite this increase, net profit remained well below the RM398.1 million achieved in the January to June period of 2025.
Key contributions to revenue growth came from the US and Bahamian markets, where revenues skyrocketed by 166%, totaling RM1.53 billion. Additionally, adjusted EBITDA surged by 82.9% to approximately RM216.8 million.
On a consolidated basis, the group's adjusted EBITDA declined 18% to RM844 million, impacted by an RM18.1 million unrealized foreign exchange loss, contrasting with a forex gain of RM184.6 million during the same timeframe in 2025. This decline was primarily influenced by exchange rate fluctuations concerning US dollar-denominated debts.
For the first half of 2026, Genting Malaysia's revenue increased by 21.9%, reaching RM6.72 billion, while adjusted EBITDA fell by 15.7% to RM1.49 billion. The company’s net profit for this six-month period stood at RM1.8 million, a drop from RM450.1 million recorded in the previous year. Looking ahead, the company faces an uncertain regional outlook, reflecting geopolitical tensions in the Middle East and broader economic risks.
