- Tracking MBS, Genting Singapore (SGX:G13)’s 1Q24 results reflect a wide array of operational refinement across both the gaming and non-gaming segments. We attribute this to higher regional tourist arrivals and consumption driven by mega entertainment events such as Taylor Swift’s six concerts, as well as seasonal strength during the CNY period.
- - Read this at SGinvestors.io -
1Q24 performed well within expectations.
- Resort World Sentosa (RWS) reported 1Q24 revenue of S$784m (+21% q-o-q, +62% y-o-y) and EBITDA of S$369.5m (+62% q-o-q; +93% y-o-y). 1Q24 net profit represented 32% and 35% of our and consensus’ full-year forecasts respectively.
Robust earnings improvement attributed to “Swiftonomics” and seasonal strength
- - Read this at SGinvestors.io -
- Note that Singapore’s 1Q24 total visitor arrivals of 4.35m improved ~25% q-o-q and recovered to ~93% of 2019’s level.
Solid growth in operating matrixes.
- Read more at SGinvestors.io.
