It was good news on October 16 for Genting Bhd. Rising profits have allowed the company to pay in interim dividend of MYR0.065 ($0.0155) per share for the financial year that ends on December 31.
In a filing in Bursa, Malaysia, Genting Bhd, the parent company of multiple casinos, announced a single-tier dividend to be paid on November 18. Its gaming establishments are across the globe – most in Asia.
Pursuing profits is the goal
Among the successful subsidiaries is Genting Singapore Ltd. The entity owns and operates the Resorts World Sentosa casino resort in Singapore. The June 30 profit statement was good, meriting a dividend of SGD0.015 ($0.0109) per ordinary share, paid out on September 20.
The results for Resorts World Genting, with operations in the United States, the Bahamas, the United Kingdom, and Egypt weren’t bad either. Thus, the company ws able to declared a single-tier dividend based upon their second-quarter results set at MYR0.06 per ordinary share. It was paid out a week ago.
However, Genting Hong Kong Ltd, the operator of casino cruise ships and shipyards, experienced a first-half loss, albeit a small one.
This held true for the Resorts World Manila casino resort in the Philippines. Dividends on their shares were declared at $0.01 per ordinary share.
No doubt Genting Bhd has been busy over the last few months keeping everything afloat.
A lot of activity for the parent company
In other news, on September 11, the subsidiary, GentingBet, reached an agreement with digital casino game specialist, NetEnt. NetEnt will provide some of their most popular games to be available on the GentingBet platform.
Genting Malaysia also announced on August 30 that they have enjoyed a 5.3% increase in net profit for the second quarter of 2019 compared to the same period in 2018. It ensued from a 7.4% increase in total revenue.
Many positive stories for Genting Bhd are appearing for the company on a hot streak. Continued success is forthcoming.