Genting Malaysia, the parent company of Resorts World Genting has announced that the luxury resort is set for a re-opening date following the prolonged closure period due to Covid-19.
However, the firm stated that its new theme park launch will be delayed from 2020 to 2021 because of the knock-on effect of the ongoing pandemic, including travel restrictions and poor demand.
The announcement was made during the release of the company’s first quarter results report of 2020, which showed more than a ten million dollar loss attributable to the Coronavirus crisis.
Resorts World Genting has been shuttered since March 2020 in an attempt to curb the spread of the virus, which originated in China.
A statement remains on the official website saying that the firm will monitor the situation of all of its resorts and make necessary announcements when more information is available from jurisdiction governments and health officials.
According to latest reports, there are currently more than seven thousand confirmed cases of Covid-19 in Malaysia, 115 of which have resulted in death and almost six thousand have recovered.
Genting have stated that ‘the Group is currently preparing for the resumption of operations and is focused on leveraging domestic demand to drive visitation and revenue. As development works on the outdoor theme park were affected, the Group is working on a revised timeline for the completion and opening…’
In addition, Genting Malaysia is making changes to employee pay arrangements and its workforces due to the challenges it faces over Covid-19. The company has stated that it is introducing measures to mitigate the impact of the pandemic and make sure the company has a long term future.
Reportedly, management salaries at the company are being voluntarily cut by as much as twenty percent and staffing needs are being reviewed during this unprecedented time. With the latest quarterly figures just in, Genting Malaysia said:
“Unfortunately, as the pandemic persists, so does the company’s financial losses. Hence, has had to make a very difficult decision of restructuring its Malaysian operations and rightsizing its workforce.”
Although many of the Genting branded casinos are currently closed globally, the firm is still operating online with its multi-product offering, including Genting Poker, Genting Casino and sportsbook Genting Bet.