- After a bumper 1Q24 driven by a very high VIP win rate, 2Q24 was weaker q-o-q on lower VIP win rate and seasonally lower non-gaming revenue. Yet, we had largely expected this and flagged it in our 1Q24 results note.
- We expect 3Q24 and 4Q24 to be seasonally stronger for Genting Singapore. The return of the former Hard Rock Hotel in early 2025 also ought to attract more premium gamblers.
Earnings within but dividends above our expectation
- - Read this at SGinvestors.io -
- That said, Genting Singapore's interim dividend of 2.0 cents was a tad above our expectation of 1.5 cents.
- - Read this at SGinvestors.io -
Luck factor and seasonality weighed on 2Q24 results
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Yin Shao Yang Maybank Research | https://www.maybank-ke.com.sg/ 2024-08-15
Read also Maybank's most recent report:
2024-11-08 Genting Singapore - Was Not A Great Quarter But Still Deep In Value.
Price targets by 3 other brokers at Genting Singapore Target Prices.
Listing of research reports at Genting Singapore Analyst Reports.
Relevant links:
Genting Singapore Share Price History,
Genting Singapore Announcements,
Genting Singapore Dividends & Corporate Actions,
Genting Singapore News Articles
