Analysts at Maybank Securities have forecast that Resorts World Genting will see 20.8 million visitor arrivals in 2023.<\/p>\n\n\n\n\n\n\n\n
Malaysia.-\u00a0Maybank Securities <\/strong>has issued a report indicating that\u00a0Resorts World Genting (RWG)<\/strong>\u00a0won’t reach a complete rebound in visitor numbers to pre-Covid-19 levels until next year. Analysts have adjusted their forecast for full-year 2023 arrivals at the casino resort to 20.8 million, down from the previous estimate of 23.7 million.\u00a0<\/p>\n\n\n\n They also revised their earnings estimate for\u00a0Genting Malaysia<\/strong>, the parent company of RWG, due to the slower-than-expected recovery in arrivals. They now expect the casino operator to achieve earnings before interest, taxation, depreciation and amortisation (EBITDA) of MYR2.78bn (US$603.4m).<\/p>\n\n\n\n Analyst\u00a0Samuel Yin Shao Yang<\/strong>\u00a0said domestic and Singaporean visitor arrivals to the venue have largely recovered to full-year 2019 levels. However, he noted that visitors from key markets such as Indonesia, Hong Kong, and mainland China have been slow to return due to limited flight capacity. Based on the fleet strategy of Malaysian carriers, flight capacity is expected to reach pre-pandemic levels by the end of this year.<\/p>\n\n\n\n Yin Shao Yang said concerns related to a landslide in the Titiwangsa Mountains, where RWG is situated, impacted visitor arrivals in the first quarter of 2023, causing\u00a0a decline of approximately 11 per cent<\/strong>\u00a0compared to the previous quarter.\u00a0Although arrivals started to improve from March 2023, data suggests that second-quarter numbers will still be around 15 per cent below full-year 2019 levels.<\/p>\n\n\n\n In the first quarter, Genting Malaysia<\/a> posted a revenue of MYR2.28bn (US$493.7m). The figure was up 32.7 per cent in year-on-year terms but down 6.2 per cent when compared to the previous quarter<\/a>.<\/p>\n\n\n\n In Malaysia, revenue from leisure and hospitality operations was up 52.5 per cent year-on-year at MYR1.40bn. However, the figure was down 11.9 per cent when compared to the previous quarter. Quarterly adjusted EBITDA was MYR436.5m, up 66 per cent when compared to last year, but down 6.6 per cent sequentially<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at Maybank Securities have forecast that Resorts World Genting will see 20.8 million visitor arrivals in 2023.<\/p>\n","protected":false},"author":176,"featured_media":18534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Maybank Securities has revised its 2023 visitor arrival forecast for Resorts World Genting to 20.8 million, down from 23.7 million, and adjusted Genting Malaysia's EBITDA estimate to MYR2.78bn due to a slower-than-expected post-Covid-19 recovery. The delay is attributed to limited flight capacity from key international markets and a Q1 landslide incident, with full pre-pandemic visitor levels not anticipated until 2024.","focusai_entities":"Maybank Securities, Resorts World Genting, Genting Malaysia, Samuel Yin Shao Yang","focusai_location":"Malaysia, Singapore, Indonesia, Hong Kong, China","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), marketing_crm (0.75), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Flight Capacity Impact","query":"What specific strategies is Genting Malaysia implementing to mitigate the impact of limited international flight capacity on visitor arrivals, particularly from key markets like China and Indonesia, and what is the projected timeline for these initiatives to yield material improvements?"},{"label":"Regional Recovery Benchmarking","query":"How do Resorts World Genting's revised visitor arrival and EBITDA recovery trajectories compare to other integrated resorts in Southeast Asia, and what unique market or operational factors contribute to any observed variances?"}],"footnotes":""},"categories":[157,16333],"tags":[19394,23922],"class_list":["post-777006164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-malaysia","tag-resorts-world-genting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006164","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=777006164"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006164\/revisions"}],"predecessor-version":[{"id":777006194,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006164\/revisions\/777006194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18534"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}