Maybank Investment analysts expect a delay in the reopening of Resorts World Genting (RWG) following a surge in Covid-19 cases.
Maybank analysts initially predicted the casinos would reopen at the end of August. Now it’s looking to November. Genting’s Malaysian casinos have been closed since the end of May.
Earlier this month, Malaysia’s outgoing Prime Minister Muhyiddin Yassin said the country will gradually reopen businesses for people who are fully vaccinated, and Maybank analyst Samuel Yin Shao Yang said RWG will open its doors when the national vaccination rate reaches 80 percent.
“Covid-19 vaccinations have surged to more than 400,000 per day,” said Yin. “At this rate, the government expects Malaysia to achieve herd immunity by October 2021. Thus, we hope that Malaysians will return to RWG in droves after that.”
According to Yin, the reopening of RWG will be followed by the launch of the new family-friendly Genting SkyWorlds theme park, already postponed multiple times, to coincide with the school holidays in December.
