Analysts Say Genting Malaysia Likely to Reopen in November

Analysts from Maybank Investment Bank are expecting a delay in the reopening of Resorts World Genting in Malaysia to November this year, following a surge in Covid-19 cases.

The analysts had initially predicted that its casinos would reopen at the end of August, but its new forecast is based on when the country expects to achieve herd immunity.

Genting Skyworld, however, is expected to open in December to coincide with the school holidays. Genting’s casinos in Malaysia have been closed since the end of May.

Earlier this week, Malaysia’s outgoing Prime Minister announced that the country will open up more sectors from Monday for individuals who are fully vaccinated as it aims to rebuild its economy.

The government said the country administers around 400,000 vaccinates a day and is on track to attain herd immunity in October.

Looking ahead, Maybank analysts said it forecasts Genting Malaysia profit of MYR24.2m in 2022 and MYR26.2m in 2023.