- Genting Singapore reported S$612mil revenue and S$225mil adjusted EBITDA in 4Q24, declining 5.4% and 1.1% y-o-y, respectively. On a q-o-q basis, revenue grew 9.0%, and adjusted EBITDA surged 37.5%.
- - Read this at SGinvestors.io -
4Q24 results above our estimates, but below consensus.
- 4Q24 y-o-y revenue decline driven by gaming softness, q-o-q improvement on normalising win rate. While Marine Bay Sands (MBS) saw broad-based gaming volume growth (VIP +11% y-o-y, mass drop +24% y-o-y, slots +6% y-o-y), Resorts World Sentosa (RWS) lagged, likely due to ongoing refurbishments. However, revenue rebounded 9.0% q-o-q in 4Q24 on normalising VIP win rate. This was partly offset by a 15.1% q-o-q decline in non-gaming revenue, likely due to increased outbound travel during the year-end holiday season.
- - Read this at SGinvestors.io -
Higher dividend payout ratio
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Zheng Feng CHEE DBS Group Research | Jason SUM CFA DBS Group Research | https://www.dbs.com/insightsdirect/ 2025-02-21
Previous report by DBS:
2024-11-12 Genting Singapore - Odds To Be Better In 2025; The House Will Eventually Win.
Price targets by 2 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 Dividend Payout Dates & Corporate Actions,
Genting Singapore News
