Genting Singapore - CGSI Research 2024-02-23: FY24 A Year Of Refurbishments

Genting Singapore - FY24 A Year Of Refurbishments

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Genting Singapore (SGX:G13) | SGinvestors.ioGenting Singapore (SGX:G13)
  • Genting Singapore (SGX:G13)’s 4Q23 revenue declined 6.2% q-o-q (gaming: -4.0% q-o-q; non-gaming: -7.7% q-o-q) due to lower visits to Resorts World Sentosa (RWS).

Weaker seasonality in 4Q23 was within expectations

  • - Read this at SGinvestors.io -
  • On the other hand, 4Q23 adjusted EBITDA declined 34.2% q-o-q to S$227.2m, due to higher impairment recorded during the quarter, which management shared was a result of increasing contribution from its VIP gaming segment, which partially run s on a credit basis.

First signs of continued tourism recovery in Jan-Feb 24…

  • - Read this at SGinvestors.io -
  • With the rollout of the mutual 30-day visa exemption between Singapore and China, we could see a further recovery of Chinese tourists supporting more visits to RWS. Singapore received 3.6m Chinese tourists in 2019.

… but pace of earnings growth to moderate due to refurbishments

  • Read more at SGinvestors.io.




Above is the excerpt from research report by CGSI Research.
Clients of CGS International may access the full report in PDF @ https://itrade.cgsi.com.sg/.




TAY Wee Kuang CGS International Research | https://itrade.cgsi.com.sg 2024-02-23



Price targets by 5 other brokers at Genting Singapore Target Prices.

Listing of research reports at Genting Singapore Analyst Reports.

Relevant links:
Genting Singapore Share Price History,
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Genting Singapore Dividends & Corporate Actions,
Genting Singapore News Articles





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