{"id":34928,"date":"2022-10-31T12:37:13","date_gmt":"2022-10-31T15:37:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=34928"},"modified":"2026-04-23T03:26:19","modified_gmt":"2026-04-23T06:26:19","slug":"genting-singapore-announces-new-appointments-at-resorts-world-sentosa","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-announces-new-appointments-at-resorts-world-sentosa","title":{"rendered":"Genting Singapore announces new appointments at Resorts World Sentosa"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The casino operator has named Lam Yi Young as deputy chief executive officer and Andrew MacDonald as chief casino officer.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Singapore.-&nbsp;<strong>Genting Singapore&nbsp;<\/strong>has announced two new appointments at Resorts World Sentosa (RWS). <strong>Lam Yi Young&nbsp;<\/strong>has been appointed deputy chief executive officer and <strong>Andrew MacDonald<\/strong>&nbsp;chief casino officer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Lam will assist RWS CEO, Tan Hee Teck, in the execution of strategies, management, the development of RWS\u2019s business and day-to-day operational performance. He has<strong> 11 years in senior public sector leadership <\/strong>and previously served as chief executive officer of the Singapore Business Federation.&nbsp;He will join RWS on January 1 2023 pending a suitability assessment by the Gambling Regulatory Authority of Singapore.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">MacDonald started working for the company on September 1, overseeing the overall casino business at RWS.&nbsp;He has more than four decades of professional, commercial, and operational experience in the gaming industry. He served as executive vice president of casino at&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/marina-bay-sands-net-revenue-up-us756m-in-q3\" target=\"_blank\">Marina Bay Sands<\/a>&nbsp;before becoming corporate senior vice president and chief casino officer at Las Vegas Sands.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company said: &#8220;We welcome Mr Lam and Mr MacDonald as RWS continues its journey of recovery and transformation to deliver best in class tourism destination experience.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Genting Singapore EBITDA to reach US$443m in 2022, analysts say<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Analysts at Moody\u2019s Investors Service have issued their credit opinion on Genting Singapore\u2019s outlook for the rest of the year. They expect&nbsp;<strong>the casino operator\u2019s earnings to improve&nbsp;<\/strong>as the Singapore casino market recovers from the Covid-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They said Genting Singapore\u2019s earnings before interest, taxation, depreciation and amortisation (EBITDA) would increase to about SGD630m (US$443.0m) in 2022 and SGD930m in 2023. This would reflect a continued recovery in operating performance following&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/singapore-passenger-volume-grows-after-easing-of-covid-19-rules\" rel=\"noreferrer noopener\">the lifting of border restrictions in April this year<\/a>. However, earnings are unlikely to return to 2019 levels until 2024-25.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moody\u2019s noted that Genting Singapore relies on Singapore\u2019s tourism industry. Visitor numbers in August 2022 remain at around 40 per cent of 2019 levels. Meanwhile, the company faces utility and labour costs, as well as increased casino tax rates since March 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agency said Genting Singapore\u2019s credit metrics will remain strong thanks to its net cash position. The company will be debt-free following the maturity of its SGD206m Japanese yen-denominated bonds in October.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, the company\u2019s credit quality is constrained by its parent company, Genting Berhad. The rating agency noted that Genting Singapore has historically been the largest contributor to Genting Berhad and holds the majority of the group\u2019s consolidated shares in cash. Genting Singapore has an issuer rating of \u2018A3\u2019, considered \u201clow credit risk.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The casino operator has named Lam Yi Young as deputy chief executive officer and Andrew MacDonald as chief casino officer.<\/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":"Genting Singapore's Resorts World Sentosa has announced key executive appointments, including a Deputy CEO and Chief Casino Officer, signaling a strategic focus on operational leadership and market recovery. Concurrently, Moody's Investors Service projects a robust EBITDA recovery for Genting Singapore, driven by market rebound, though pre-pandemic performance levels are not anticipated until 2024-25, amidst ongoing cost pressures and regulatory adjustments. The company maintains strong credit metrics, despite parental credit constraints.","focusai_entities":"Genting Singapore, Resorts World Sentosa (RWS), Lam Yi Young, Andrew MacDonald, Tan Hee Teck, Singapore Business Federation, Gambling Regulatory Authority of Singapore, Marina Bay Sands, Las Vegas Sands, Moody\u2019s Investors Service, Genting Berhad","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (1.0), regulator (0.9), compliance_legal (0.8), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Executive Strategy Impact","query":"What is the strategic rationale behind these executive appointments, and how will their combined expertise influence RWS's competitive positioning and operational efficiency within the APAC integrated resort market?"},{"label":"Capital Allocation Outlook","query":"Considering the projected EBITDA recovery and strong credit metrics, what are Genting Singapore's immediate capital expenditure priorities for RWS, particularly regarding non-gaming asset enhancements or potential regional market diversification?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-34928","post","type-post","status-publish","format-standard","hentry","category-business-news","category-south-east-asia-news","tag-genting-singapore"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34928","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=34928"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34928\/revisions"}],"predecessor-version":[{"id":34965,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/34928\/revisions\/34965"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=34928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=34928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=34928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}