{"id":24441,"date":"2021-11-11T13:01:23","date_gmt":"2021-11-11T16:01:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24441"},"modified":"2026-04-23T13:55:34","modified_gmt":"2026-04-23T16:55:34","slug":"genting-will-remain-affected-by-chinas-zero-covid-policy","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-will-remain-affected-by-chinas-zero-covid-policy","title":{"rendered":"Genting will remain affected by China\u2019s zero-Covid policy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Analysts at Nomura Research predict China\u2019s zero-Covid policy may continue to affect Genting Singapore&#8217;s revenue in 2022.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Singapore.- A day after\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-revenue-down-9-for-q3\">Genting Singapore<\/a>\u00a0shared its financial results for the third quarter of the year, analysts at Nomura Research have predicted<strong>\u00a0the company will remain affected by China&#8217;s zero-Covid policy<\/strong>\u00a0the next year even if Singapore reopens for international travel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company has a positive attitude on the operator of Resorts World Sentosa but believes it could be <strong>some time before Chinese citizens can travel<\/strong> again. According to data from the Singapore Tourism Board,<strong>\u00a0China was the largest source country <\/strong>for international tourism in Singapore\u00a0in 2019, with visitors spending $4.1bn.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Due to continued capacity constraints,\u00a0Nomura Securities has<strong> lowered its forecast <\/strong>for Genting Singapore adjusted EBITDA\u00a0for this year from SG$533m to SG$490m. Analysts have also lowered their forecast from SG$687m to SG$644m for 2022 and from SG$931m to SG$901m for 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-h2-earnings-to-be-similar-to-h1-analysts-say\" rel=\"noreferrer noopener\">According to Nomura<\/a>,&nbsp;<strong>Genting Singapore\u2019s earnings&nbsp;<\/strong>for the second half will be similar to those registered during the first quarter of the year or even below that level. Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) for the first half was&nbsp;<strong>SGD276.1m<\/strong>, compared to SGD66.7m in the first half of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts at Nomura Research predict China\u2019s zero-Covid policy may continue to affect Genting Singapore&#8217;s revenue in 2022.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Nomura Research predicts Genting Singapore's revenue will continue to be affected by China's zero-Covid policy through 2022, despite Singapore's reopening. Analysts have consequently lowered adjusted EBITDA forecasts for Genting Singapore for 2021, 2022, and 2023, citing ongoing capacity constraints and the historical reliance on Chinese tourism for Resorts World Sentosa's GGR.","focusai_entities":"Nomura Research, Genting Singapore, Resorts World Sentosa, Singapore Tourism Board, Nomura Securities","focusai_location":"China, Singapore","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"China policy impact","query":"What specific operational adjustments or market diversification strategies is Genting Singapore implementing to mitigate the prolonged impact of China's zero-Covid policy on its GGR?"},{"label":"EBITDA forecast drivers","query":"Beyond the China zero-Covid policy, what other capacity constraints or market headwinds are factored into Nomura's revised EBITDA forecasts for Genting Singapore through 2023?"}],"footnotes":""},"categories":[163,16333],"tags":[23687],"class_list":["post-24441","post","type-post","status-publish","format-standard","hentry","category-finance-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24441","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=24441"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24441\/revisions"}],"predecessor-version":[{"id":24456,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24441\/revisions\/24456"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}