Genting Berhad has promised to focus on building its Las Vegas mass market and convention business after its flagship Las Vegas Strip resort, Resorts World Las Vegas (RWLV), saw only minimal EBITDA improvement in the three months to 31 March 2023.

The company published its financial results for Q1 overnight, revealing during its subsequent earnings call that revenue of US$218 million at RWLV was down on the US$227 million reported in 4Q22, although EBITDA climbed from US$47 million to US$50 million. The gaming/non-gaming revenue mix came in at 25% and 75% respectively.

In a note, Nomura analysts Tushar Mohata and Alpa Aggarwal said that, “In order to grow EBITDA from current ~US$50 million per quarter run-rate, management intends to focus on building mass market business (to build customer database) and convention business on weekdays.”