RM3.85B Revenue. RM27M Net Profit. US Revenue More Than Doubles. Genting Malaysia’s Next Chapter Is Taking Shape.
Genting Malaysia Berhad reported its results for the second quarter and half year ended 30 June 2026 on 20 August, and the two headline numbers pull in opposite directions. Revenue rose 32% to RM3,853.3 million. Net profit fell 93%, to RM27.0 million from RM398.1 million a year earlier. Understanding the Genting Malaysia Q2 2026 results means understanding why a company can sell far more and earn far less in the same three months.
The answer sits in New York.
What the Genting Malaysia Q2 2026 results actually show
Group revenue climbed by RM934.8 million year on year. Adjusted EBITDA, though, dropped 18% to RM844.0 million. Profit before taxation fell 71% to RM143.8 million. And the reported net profit of RM27.0 million was a fraction of the prior year’s figure. For the half year the pattern repeats: revenue up 22% to RM6,720.2 million, net profit down to RM1.8 million from RM450.1 million.
But the reported EBITDA figure carries a distortion worth naming. It includes a net unrealised foreign exchange translation loss of RM18.1 million on the group’s US-dollar borrowings, against a RM184.6 million gain the year before. Strip that swing out and adjusted EBITDA rose 2% to RM862.1 million. The core didn’t crack. The currency line did.
Why Resorts World New York City drove the gaming revenue jump
On 28 April 2026, Resorts World New York City began the initial phase of full commercial casino operations, introducing live table gaming and slot machines where it had run a video-gaming-machine facility a year earlier. The launch covered 242 table games and 2,500 slot machines, with a further 1,400 slots added since. Revenue from the group’s US and Bahamas leisure and hospitality operations more than doubled to RM1,533.6 million, with adjusted EBITDA up 83% to RM216.6 million.
That is the revenue engine. It is also the cost centre.
What the RWNYC Ramp-Up Costs Mean for Genting Malaysia
Here’s what a platform head or investor should take from this. The profit fall wasn’t operational weakness – it was the timing of a capital-heavy build. Ramp-up costs to transition RWNYC to a commercial casino, higher depreciation on the new investment, and heavier finance charges from the borrowings that funded it all landed together. Finance costs alone rose RM85.0 million in the quarter. These are front-loaded expenses against revenue that hasn’t fully matured.
Malaysia, meanwhile, held steady. Revenue there slipped 1% to RM1,765.4 million, but adjusted EBITDA edged up to RM615.0 million on cost discipline, with margin improving to 35% from 34%. The UK and Egypt softened slightly, with revenue at RM506.2 million and premium gaming pressured by Middle East tensions.
The Debt Question Behind Genting Malaysia’s Casino Expansion
No interim dividend was declared. The board pointed to prudent capital management and debt reduction, and group borrowings stood at RM15,703.1 million as at 30 June. That’s the honest complication: the New York expansion is being carried on a heavily leveraged balance sheet, and finance costs will keep pressuring profit until the casino ramps. Patience is required, and it isn’t free.
What Comes Next for This Gaming Operator?
The near-term shape is set. RWNYC broke ground on its next development phase in July, aiming to become a full-scale integrated resort, so the cost side has further to run before the return arrives. For operators watching how a flagship build reshapes a P&L, Genting Malaysia is now the clearest live example in the sector – revenue and profit moving apart, then, eventually, back together. The number that matters isn’t this quarter’s profit. It’s how fast New York closes the gap.
Source: Genting Malaysia Berhad
