Genting Malaysia Berhad has reported a strong performance for the first quarter of 2024, a recent dispatch by brokerage firm Maybank states, with core net profit surpassing expectations due to lower-than-anticipated tax rates.

Maybank, in its latest investment memo, reiterates its positive expectations for Solaire Resorts North despite Bloomberry’s 1Q24 core net income decline.

The Philippines' gross gaming revenue is expected to grow ‘at least 15 percent’ this year, following record-breaking 2023.

Maybank Securities forecasts that Thai entertainment complexes (ECs) featuring casinos could yield approximately THB 187 billion ($5.14 billion) in annual revenue, equivalent to roughly 1 percent of Thailand's GDP.

Although maintaining a ‘cautiously optimistic’ outlook for Genting Singapore in 2024, Maybank cuts its EBITDA and core net profit estimates by 6 percent and 11-12 percent, respectively.

Maybank analyst cuts Bloomberry Resorts FY24 forecast due to a gaming revenue slowdown, in particular in VIP.

Visa-free entry for Chinese citizens may have a negligible impact on Malaysia's gaming industry, according to a Maybank analyst.

Investment bank Maybank has revised its earning estimates for Genting Berhad due to the strong performance posted by the group in 3Q23.

The surge in housing prices was the primary driver behind Singapore's mass gross gaming revenue (GGR) surpassing pre-COVID levels, according to Samuel Yin Shao Yang, associate director at Maybank Investment Bank.

Maybank has lowered Genting Malaysia's earnings estimate for fiscal 2024 and 2025 by 4 and 5 percent, respectively, due to a two percentage point service tax rate hike in the country.