Morgan Stanley predicts Genting Singapore’s Q1 EBITDA at US$201m

The estimate exceeds the market consensus of SGD252m.

Singapore.- Genting Singapore is expected to generate first-quarter earnings before interest, taxation, and depreciation (EBITDA) of SGD268m (US$201m), according to a forecast by Morgan Stanley. The estimate exceeds the market consensus of SGD252m and would represent an improvement of approximately 4 per cent quarter-on-quarter, adjusted for hold.

The figure would be 83 per cent of the EBITDA generated in the first quarter of 2019. Meanwhile, analysts at Nomura have predicted that Genting Singapore’s VIP rolling chip volume will rise 39 per cent on year-on-year terms in 2023, with the property’s mass table drop up by 10 per cent and its slot handle also up by 10 per cent compared to 2022.

Yesterday (April 20), Marina Bay Sands, Singapore’s other casino venue, reported that adjusted property EBITDA rose from US$121m to US$394m year-on-year in the first quarter of the year.Las Vegas Sands reported that Marina Bay Sands (MBS) contributed US$848m of the US$2.12bn in revenue the group recorded during the first quarter of the year, representing an annual rise of 112 per cent.