Maybank says opening new theme park only in December

Genting Skyworld, Malaysia’s new outdoor theme park for Casino Complex Resort World Genting, can now only open in December regarding the possibility of a three-month closure of properties due to the COVID-19 pandemic, Maybank Investment Bank Bhd’s Monday memo said.

As a result, the investment bank is cutting its forecast for the resort’s 2021 visitor numbers from 12 million to 8.5 million. Theme parks were cited as a major concern for tourists.

Maybank is also extending its 2021 core net loss forecast for resort promoter Zenting Malaysia Bhd to $676 million ($164.1 million), up 76%.

However, Maybank analyst Samuel Yin Xiao Yang said the net loss in 2021 should be “just half of fiscal 2020,” which posted a net loss of nearly 1.45 billion yuan.

Last month, Genting Malaysia said it was working to complete the outdoor theme park’s “third quarter 2021.”

“Resort World Genting will be closed for three months this time, and I think Genting Sky World will only open in December 2021 in line with the school holidays,” Mr. Yin’s note said in Malaysia from Dec. 10 to Dec. 31.

Resorts World Genting, located on the outskirts of Kuala Lumpur, Malaysia’s capital, was completely closed for the time being on May 31, due to Maybank’s “recent surge” in new COVID-19 cases in Malaysia. Game operations temporarily closed a week ago, on May 24.

“Resort World Genting closed for three months from March 18 to June 18, 2020, and closed again for 25 days from January 22 to February 15, 2021,” Mr. Yin noted.

Genting Malaysia also has operations in the United States, the Bahamas, the United Kingdom and Egypt. However, Maybank said about 80% of the group’s revenue came from Malaysian casino complexes.

BY: 바카라사이트

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