CLAIMS TO FAME
- Oversees Malaysia’s only casino at Resorts World Genting
- A trusted lieutenant of Lim Kok Thay after 27 years at the company
A chartered accountant by trade, Lee Choong Yan has seen it all in his 27 years with Genting Malaysia, but even he must be excited by the short-term prospects of the integrated resort he oversees – Resorts World Genting.
The property is certainly back on track, reporting strong growth during the first six months of 2024 including an 8% year-on-year increase in total revenue to US$619 million in the June quarter – largely on the back of its flagship Malaysian IR.
The opening of the new Genting SkyWorlds theme park has certainly helped grow visitation, with ratings agency Fitch forecasting full revenue recovery to pre-COVID levels by 2025. Such recovery may have even been achieved this year if not for the closure of two of RWG’s gaming floors – Circus Palace and Hollywood – in February for lengthy renovation works.
There have also been positive signs within the company’s UK and Egypt segment – Genting UK alone operates around 30 casinos – and its US and Bahamas segment, both returning strong growth to kickstart the year. However, its long-term prospects will only be fully realized by winning a full casino license for its Resorts World New York City property – currently running with machines only.
One thing’s for sure: Lee’s global outlook is sure to keep him busy in the years ahead.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
