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.

Maybank associate director Samuel Yin Shao Yang has raised its estimate for Genting Singapore's 2020 EBITDA by 425 percent after the operator turned a surprise profit in Q3.

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.

An analyst at Maybank states that there is no discernible impact on the VIP market after Singapore seized a massive money laundering case.

Despite Genting Berhad’s core net profit for 2Q23 and 1H23 falling slightly below expectations, along with the first interim Dividend Per Share (DPS) missing the mark, analysts at Maybank maintain high expectations due to the anticipation of 'earnings improving sequentially, driven by the rise in visitor arrivals at all its integrated resorts.'

Due to the “tad later than expected” return of international visitors to Resorts World Genting (RWG), the Maybank Investment Bank has lowered its earnings estimates for Genting Malaysia by 27 percent for FY23.

Malaysia is currently going through a spike in Covid cases due to the Omicron variant, though Maybank says it’s cautiously optimistic the impact on the gaming industry will be limited this time around.

Genting Malaysia’s long-awaited and much-anticipated SkyWorlds outdoor theme park will hold its soft opening on Tuesday, with analysts confident the attraction will prove to be a key driver of visitation to Resorts World Genting.

The crown jewel in Genting Malaysia’s $2.4 billion revamp of Resorts World Genting is making its debut this month, with analysts expecting the attraction to deliver a significant boost to visitation.

Singapore local residents are continuing to support the island’s two integrated resorts, with Q4 results confirming a trend noted the prior quarter.