Monday, December 11, 2023

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Your Daily Asia Gaming eBrief: Genting Singapore shows strong results in 1H23

The first half of the year has proved to be a happy merry-go-round for every gaming operator in the block, with Genting Singapore’s adjusted EBITDA and revenue skyrocketing in the first half of 2023.

Genting Singapore adjusted EBITDA jumps 68 percent y-on-y to $336 million in 1H23

Genting Singapore has announced a strong first half of 2023, with adjusted EBITDA rising 68 percent to SG$452.5 million ($336 million), as consolidated revenue rose by 63 percent yearly to SG$1.1 billion ($817 million).

CLSA upgrades Genting Singapore to “buy”

Genting Singapore has seen its rating upgraded from “outperform” to “buy” by CLSA, after Las Vegas Sands released its results for the second quarter of this year.

Maybank trims Genting Singapore’s core net profit forecasts by 12 percent

After having a meeting with Genting Singapore management, analyst Samuel Yin Shao Yang at Maybank cuts its core net profit forecasts by 12 percent and EBITDA forecast by 14 percent for 2023.

Genting Singapore 1Q23 earnings grow 220%, keeps enhancing RWS’ brand

Integrated resort operator Genting Singapore reported a 220 percent increase in its net profit after taxation to SGD129 million ($97 million) for the first quarter ended Mar 31, 2023, from SGD40.4 million ($30.3 million) in the same period one year ago.

Genting Singapore: no plans to pursue bid for Osaka or Japan IR

Genting Singapore confirms it is fully out of the race for a potential IR in Japan, noting in a pre-AGM release that the company ‘previously pursued a bid to develop an integrated resort in Yokohama City, but this was discontinued when Yokohama City decided to cancel the […] integrated resort bid process’.

Genting Singapore remains “cautiously optimistic” of recovery pace

The head of casino operator Genting Singapore Ltd, Lim Kok Thay, notes that the firm is expecting “continued recovery of travel and tourism”, mentioning that the “recovery pace may be inconsistent due to international flight capacities and unexpected border measures. Further, economic uncertainties and inflationary pressure as well as manpower challenges emerge as areas of concern”.

Liabilities rose significantly due to strong rebound says Genting Singapore

Genting Singapore says that “significant increases” in the company’s liabilities from 2021 to 2022 are “in line with the increase” in revenue, as travel recovery gained momentum in the second half of 2022.

Your Daily Asia Gaming eBrief: Genting Singapore sees $258mln profit in 2022

Singapore, lovely Singapore. The merlion city cemented its Asian gaming crown in 2022, with Resorts World Sentosa seeing massive upticks in gaming revenue, leading the group to a stunning $258 million profit.

Resorts World Sentosa drives Genting Singapore to $258mln profit in 2022

Genting Singapore has posted an 86 percent increase in profit for 2022, totaling SG$345.06 million ($258.32 million), as Resorts World Sentosa saw strong rebounds during the second half of the year.