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GGRAsia – Nascent gaming recovery, challenges remain: Genting boss
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“While the regional gaming market has continued to register nascent recovery, significant challenges will persist in the coming year, given the negative impact of the pandemic on the sector, ” said chairman and chief executive Tan Sri Lim Kok Thay (pic) in its Financial Year 2020 Annual Report. remains cautious on its near-term prospects in the leisure and hospitality industry but says it is in a good position to capitalise on the eventual recovery in the sector.
“While the regional gaming market has continued to register nascent recovery, significant challenges will persist in the coming year, given the negative impact of the pandemic on the sector, ” said chairman and chief executive Tan Sri Lim Kok Thay in its Financial Year 2020 Annual Report.
Genting Malaysia budgets RM1b capex, said to be proposing US dollar bonds
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The chairman and chief executive of Malaysian conglomerate Genting Bhd, Lim Kok Thay (pictured), says there are signs of “nascent recovery” in gaming across Asia. The veteran tycoon however warned of “significant challenges” in the year ahead, as the Covid-19 pandemic continues to have a negative impact on business.
Genting operates casinos in a number of jurisdictions. It is the parent company of casino operator Genting Malaysia Bhd, which operates Resorts World Genting, the only licensed casino complex in Malaysia.
In addition, Genting controls Genting Singapore Ltd, the operator of Resorts World Sentosa, one of Singapore’s two casino resorts.
KUALA LUMPUR (April 7): Genting Bhd chairman and chief executive Tan Sri Lim Kok Thay said that while the regional gaming market had continued to register a nascent recovery, significant challenges will persist in 2021 given the negative impact of the Covid-19 pandemic on the sector as the outlook for the global tourism, leisure and hospitality industries remains highly uncertain.
In the casino and hotel operator’s latest annual report filed with Bursa Malaysia today, Lim said the group maintains a cautious stance on near-term prospects for the leisure and hospitality industry.
“The outlook for the global tourism, leisure and hospitality industries remains highly uncertain. While the regional gaming market continued to register a nascent recovery, significant challenges will persist in the coming year given the negative impact of the pandemic on the sector,” he said.
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