- 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.
