Genting Singapore - Maybank Research 2026-02-25: Weak End To FY25; Downgrade To HOLD

• Genting Singapore (SGX:G13)'s 4Q25 and FY25 results underwhelmed. We expected 4Q25 to be better q-o-q due to the reopening of The Laurus Hotel but it did not materialise.
• - Read this at SGinvestors.io -

Earnings below expectations but dividends in-line

• 4Q25 core net profit of S$61.5m brought Genting Singapore's FY25 core net profit to S$423.3m which underperformed our expectations at 85% of our FY estimate. The shortfall was due to lower-than-expected FY25 VIP volume of S$33.8b (MIBG estimate: S$36.0b) as 4QFY25 VIP volume fell ~15% q-o-q to S$7.4b as Resorts World Sentosa ceded 15ppts of VIP volume share to Marina Bay Sands (MBS).
• - Read this at SGinvestors.io -

Was expecting a much better 4Q25

• 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/.

Previous report by Maybank:
2025-11-07 Genting Singapore - Pulling Itself Out Of The 2Q25 Trough.

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 Dividend Payout Dates & Corporate Actions,
Genting Singapore News