Genting Malaysia Bhd announced its pre-tax profit for the third quarter ended Sept 30, 2011 increased to RM463.084 million from RM416.262 million in the same quarter last year. Its revenue rose to RM2.316 billion from RM1.203 billion.
For the nine-months period, its pre-tax profit increased to RM1.447 billion from RM1.228 billion in the same period last year while revenue rose to RM6.162 billion from 3.775 billion.
On its third quarter performance, Genting Malaysia said during the quarter, the group's recognised revenue of RM566.9 million in relation to the progressive development of Resorts World Casino New York City (RWNYC) UK revenue contribution was RM332.3 million, it added.
In Malaysia, the leisure and hospitality business reported RM203.9 million or 17 per cent higher revenue, driven by an increase in both overall volume of business and hold percentage in the premium players business, it said in a statement.
Excluding the construction revenue, the group's revenue would have increased by 45 per cent, it said. It said the group remains cautious on the outlook of the leisure and hospitality industry.
Slower global growth prospects are anticipated mainly due to weakening economic fundamentals, it said. Growth in regional tourism should continue to augur well for the leisure and hospitality business, it said.
It said the premium players business in the region also saw significant growth as evidenced by recent reports in Singapore and Macau.
In Malaysia, despite regional competition, the group is heartened by its recent performance. The group remains cautiously optimistic that its yield management efforts will continue to contribute positively for the remaining period of the year.
In the UK, despite the lacklustre economic environment, the group remains focused on its efforts to harness its established business links with Asia and to reinvigorate its casinos.
In the US, RWNYC made its debut on Oct 28 as the first casino in New York City, with encouraging results, it said.
Additional floors of gaming facilities, event space and new upscale dining offerings are slated to be made available to the public by year-end, effectively doubling the resort's gaming capacity, it said.
This resort will provide an additional leisure attraction to New York City, given its close proximity to the city centre and relative ease of accessibility, it said.
A comprehensive masterplan for Resorts World Miami was unveiled in September 2011, it said.
The destination resort masterplan comprises a mixed-use development which incorporates themed-hotels, a podium housing the convention, entertainment, restaurant, retail, commercial facilities and residential towers, it said.
Separately, Genting Malaysia Bhd said its indirect wholly-owned subsidiary Genting Casinos UK Limited (Gencas) acquired the entire issued share capital of Fox Poker Club Limited for 7.750 million pounds (RM38.35 million).
Fox Poker Club is a private limited company incorporated in UK on March 15, 2005 with entertainment activities as its business, said Genting malaysia in a filing to Bursa Malaysia Securities.
It said the company holds a casino licence and operates a poker club in Shaftesbury Avenue in central London. -- Bernama
For the nine-months period, its pre-tax profit increased to RM1.447 billion from RM1.228 billion in the same period last year while revenue rose to RM6.162 billion from 3.775 billion.
On its third quarter performance, Genting Malaysia said during the quarter, the group's recognised revenue of RM566.9 million in relation to the progressive development of Resorts World Casino New York City (RWNYC) UK revenue contribution was RM332.3 million, it added.
In Malaysia, the leisure and hospitality business reported RM203.9 million or 17 per cent higher revenue, driven by an increase in both overall volume of business and hold percentage in the premium players business, it said in a statement.
Excluding the construction revenue, the group's revenue would have increased by 45 per cent, it said. It said the group remains cautious on the outlook of the leisure and hospitality industry.
Slower global growth prospects are anticipated mainly due to weakening economic fundamentals, it said. Growth in regional tourism should continue to augur well for the leisure and hospitality business, it said.
It said the premium players business in the region also saw significant growth as evidenced by recent reports in Singapore and Macau.
In Malaysia, despite regional competition, the group is heartened by its recent performance. The group remains cautiously optimistic that its yield management efforts will continue to contribute positively for the remaining period of the year.
In the UK, despite the lacklustre economic environment, the group remains focused on its efforts to harness its established business links with Asia and to reinvigorate its casinos.
In the US, RWNYC made its debut on Oct 28 as the first casino in New York City, with encouraging results, it said.
Additional floors of gaming facilities, event space and new upscale dining offerings are slated to be made available to the public by year-end, effectively doubling the resort's gaming capacity, it said.
This resort will provide an additional leisure attraction to New York City, given its close proximity to the city centre and relative ease of accessibility, it said.
A comprehensive masterplan for Resorts World Miami was unveiled in September 2011, it said.
The destination resort masterplan comprises a mixed-use development which incorporates themed-hotels, a podium housing the convention, entertainment, restaurant, retail, commercial facilities and residential towers, it said.
Separately, Genting Malaysia Bhd said its indirect wholly-owned subsidiary Genting Casinos UK Limited (Gencas) acquired the entire issued share capital of Fox Poker Club Limited for 7.750 million pounds (RM38.35 million).
Fox Poker Club is a private limited company incorporated in UK on March 15, 2005 with entertainment activities as its business, said Genting malaysia in a filing to Bursa Malaysia Securities.
It said the company holds a casino licence and operates a poker club in Shaftesbury Avenue in central London. -- Bernama
