Genting Singapore - Maybank Research 2025-05-15: Decent Start To 2025

Genting Singapore: Decent Start To 2025

Published:
Genting Singapore (SGX:G13) | SGinvestors.io
  • Genting Singapore's 1Q25 earnings came in in-line with our expectations. VIP volume and mass market recovered meaningfully q-o-q.
  • From 3Q25, we expect operations to be stronger thanks largely to the opening of The Laurus hotel that will house more VIP and premium mass players.

Results within our expectations.

  • - Read this at SGinvestors.io -
  • As a secondary check, 1Q25 revenue of S$626.2m (-20% y-o-y, +2% q-o-q) and 1Q25 EBITDA of S$235.8m (-36% y-o-y, +5% q-o-q) were also in-line at 26% and 24% of our full year estimates respectively.
  • Of note, 1Q25 VIP volume recovered 26% q-o-q to S$8.7b as RWS regained 5ppts of VIP volume share to 44% and 1Q25 mass market gross gaming revenue hit a post-COVID high of S$414m.

Maintain earnings estimates.

  • - Read this at SGinvestors.io -
  • Going into 3Q25, we expect operations to be stronger. Then, the Singapore Oceanarium will open and so will the 183-suite The Laurus hotel. The latter is especially important as it will add to room inventory to house VIP and premium mass players.

Long serving CEO to retire.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.



Yin Shao Yang Maybank Research | https://www.maybanktrade.com.sg/ 2025-05-15



Previous report by Maybank:
2025-02-21 Genting Singapore - Decent End To 2024.

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






Advertisement

You May Also Like



SGX Stock / REIT Search

Advertisement

Most Read

Trust Bank Referral Code

Advertisement