Genting gears for tourism plan rollout

Genting Malaysia, the country’s only casino operator, is ramping up preparation works as it prepares to begin rolling out the first stages of its RM10.38 billion ($2.46 billion) Genting Integrated Tourism Plan in the second half of this year. The company, which has said that it expects the economic environment to be challenging in 2016, is forecast to open its Sky Avenue & Sky Plaza shopping malls, and a new cable car station progressively by the end of the year. However, its much touted Twentieth Century Fox World theme park has been delayed to late 2017. According to analysts at AllianceDBS Research, the firm has obtained regulatory approvals for a new casino at Sky Plaza, though management has only provided minimal details on the additional gaming capacity obtained. In Q1, Genting Malaysia’s reported profit fell by 55.4 percent to RM161.6 million mainly due to unrealized foreign exchange losses. Revenue gained 6 percent....

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