Good Morning. The dragon has awakened. According to brokerages Hong Leong Investment Bank Research and Maybank, Genting operations in Malaysia and Singapore will benefit greatly from the return of Chinese visitors in 2024. Resorts World Genting and Resorts World Singapore are set to gain from the anticipated revival of Chinese tourists, with revenues expected to reach or even surpass 2019 levels. Macau gaming operators are also spreading the wealth, with Galaxy, Melco and Wynn having already announced future employee bonuses ahead of the Chinese New Year.
What you need to know
- Genting operations in Malaysia and Singapore will benefit greatly from the return of Chinese visitors in 2024.
On the radar
- Galaxy Entertainment announces discretionary bonus for employees.
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- Melco and Wynn also announce a bonus for employees.
AGB Intelligence
GENTING OUTLOOK
China tourism recovery to boost Genting gaming business
Genting operations in Malaysia and Singapore 2024 are poised to get a shot in the arm from the recovery in the Chinese outbound tourism market. Analysts from Hong Leong Investment Bank Research and Maybank see the group’s Resorts World properties getting back or exceeding pre-pandemic revenue figures.
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