Genting Malaysia stays wary of Covid-19 variants as borders reopen

Genting Malaysia stays wary of Covid-19 variants as borders reopen
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(April 8): Genting Malaysia Bhd is staying cautiously optimistic about near-term prospects for the leisure and hospitality industry, and remains wary of the increased spread of Covid-19 variants, according to its 2021 annual report released on Thursday (April 7).

“While the outlook for international tourism is gradually improving, uncertainties surrounding Covid-19 developments will continue to pose headwinds to global travel,” the company said.

Still, higher vaccination rates globally and the introduction of vaccine passports in certain countries will aid recovery, according to the company.

The Malaysian casino and hospitality group, controlled by tycoon Tan Sri Lim Kok Thay, said the development of Resorts World Hudson Valley in New York is progressing well and remains on track to open in summer this year.

It will continue to pursue strategic initiatives between Resorts World New York City and its associate company Empire Resorts Inc to boost business volume and overall returns of its US operations, it added.

In Malaysia, the recent reopening of national borders will further support its recovery, the company said, adding that it will continue to ramp up operations in the UK and Egypt.