Analysts predict Singapore will have 80 per cent of its population fully vaccinated against Covid-19 by September, which could lead to an easing of restrictions and the end of reduced capacity limits at Genting Singapore.<\/p>\n\n\n\n\n\n\n\n
Singapore.- OCBC analysts have predicted\u00a0Singapore could achieve an 80 per cent vaccination rate<\/strong>\u00a0for Covid-19 by September. That could lead to a relaxation in\u00a0travel restrictions\u00a0<\/strong>and a loosening of social distancing restrictions.<\/p>\n\n\n\n The analysts said: “Genting Singapore will benefit from Singapore\u2019s high inoculation rate\u00a0<\/strong>which will create opportunities for a gradual and selective opening of borders by the end of 2021.”<\/p>\n\n\n\n Authorities have already announced that\u00a0<\/strong>travel restrictions will be eased from August 20<\/a>\u00a0for visitors coming from countries considered safe. Those who arrive in\u00a0Singapore will have to undergo a 14-day quarantine<\/strong>\u00a0in the residence or accommodation of their choice.<\/p>\n\n\n\n Genting Singapore Ltd<\/a> shared its financial results for the first half of the year, reporting a net profit of SGD88.2m (US$65m)<\/strong>, which compares to a loss of SGD116.7m last year.<\/p>\n\n\n\n The company reported\u00a0<\/strong>that revenue was up 23.8 per cent to SGD554.8m<\/strong>\u00a0when compared to the first half of 2020, while gaming revenue in the first half of 2021 came in at SGD442.9m, up 61.4 per cent year-on-year.<\/p>\n\n\n\n Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first half of the year was SGD276.1m<\/strong>, compared to SGD66.7m in the first half of 2020.<\/p>\n\n\n\n According to\u00a0Nomura<\/a>,\u00a0Genting Singapore\u2019s earnings\u00a0<\/strong>for the second half will be similar to those registered during the first quarter of the year or even below that level.<\/p>\n\n\n\n Analysts predict Genting Singapore\u2019s revenue<\/a> will reach SGD1.74bn (US$1.30bn) in 2021, and almost SGD2.11bn in 2022. In 2020, the company reported revenue of SGD69.2m (US$52.1m)<\/a>, down 89.9 per cent year-on-year.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Analysts predict Singapore will have 80 per cent of its population fully vaccinated against Covid-19 by September, which could lead to an easing of restrictions and the end of reduced capacity limits at Genting Singapore.<\/p>\n","protected":false},"author":176,"featured_media":18825,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Singapore is projected to achieve an 80% vaccination rate by September, potentially leading to eased travel and social distancing restrictions, which is expected to benefit Genting Singapore. The company reported a significant turnaround in H1 2021, posting a net profit of SGD88.2m and a 61.4% increase in gaming revenue year-on-year, though analysts predict a more tempered H2 performance.","focusai_entities":"Genting Singapore, OCBC, Nomura","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Recovery Trajectory","query":"What is the projected trajectory for Genting Singapore's Gross Gaming Revenue (GGR) and non-gaming revenue contribution, considering the phased easing of travel restrictions and potential for increased visitation from key source markets?"},{"label":"Operational Cost Structure","query":"How will the anticipated increase in operational capacity and visitor volume impact Genting Singapore's fixed and variable cost structures, and what is the projected EBITDA margin outlook for H2 2021 and FY2022?"}],"footnotes":""},"categories":[23876,16333],"tags":[23687,23907],"class_list":["post-21709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-news","category-south-east-asia-news","tag-genting-singapore","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=21709"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21709\/revisions"}],"predecessor-version":[{"id":21721,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21709\/revisions\/21721"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18825"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Genting Singapore reports net profit of US$65m for H1<\/h2>\n\n\n\n