CASINO

Genting Bhd’s rising profits allow interim dividend

TAGs: Genting

On October 16, Genting Bhd announced that they will be paying an interim dividend of MYR0.065 ($0.0155) per share for the financial year that will end on December 31. The single-tier dividend will be paid on November 18 the company stated in a filing with the government in Bursa, Malaysia.

genting-bhds-rising-profits-allow-interim-dividend-minGenting is the parent company to a number of casino companies that own and operate gaming establishments across the globe, with most being located in Asia. Many of these establishments have seen profits rise during this year.

For example, in early August one of the subsidiaries of Genting Bhd, Genting Singapore Ltd which owns and operates the Resorts World Sentosa casino resort in Singapore, announced their second-quarter profit statement which ended on June 30. As part of that statement, they announced an interim dividend of SGD0.015 ($0.0109) per ordinary share, which was paid out on September 20.

Also in August, Resorts World Genting, which has its operations in the United States, the Bahamas, the United Kingdom, and Egypt, declared that they would also be providing a single-tier dividend based upon their second-quarter results. That amount was set at MYR0.06 per ordinary share and was paid out last week.

Near the end of August, another subsidiary of Genting Bhd, Genting Hong Kong Ltd, which is the operator of casino cruise ships and shipyards, announced that they had a first-half loss, although a small one. This was also true of the Resorts World Manila casino resort in the Philippines. The dividends on the shares were declared at $0.01 per ordinary share.

Genting Bhd has been busy over the last few months. On September 11, one of their subsidiaries, GentingBet, announced that they had reached an agreement with digital casino game specialist NetEnt. The deal called for NetEnt to provide a number of their most popular games to be available on the GentingBet platform.

On August 30, another subsidiary of the company, Genting Malaysia, announced that they had a 5.3% increase in net profit for the second quarter of this year as compared to the same period last year. This was due to a 7.4% increase in total revenue over the same period of time in 2018.

This is just a couple of the positive stories that are coming out of Genting Bhd this year, as it appears that the company is on quite a hot streak. Even with this impending legal action, it appears that there is nothing standing in the way of the company’s continued success.

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