{"id":777007653,"date":"2023-07-26T06:38:52","date_gmt":"2023-07-26T09:38:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777007653"},"modified":"2026-04-22T19:40:03","modified_gmt":"2026-04-22T22:40:03","slug":"genting-singapore-rating-upgraded-to-buy","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-singapore-rating-upgraded-to-buy","title":{"rendered":"Genting Singapore rating upgraded to “Buy”"},"content":{"rendered":"\n

CLSA has upgraded Genting Singapore’s rating following positive Q2 results from Las Vegas Sands.<\/p>\n\n\n\n\n\n\n\n

Singapore.- CLSA has upgraded Genting Singapore’s rating from “outperform” to “buy” following the release of\u00a0Las Vegas Sands’ (LVS) second-quarter results<\/a>.\u00a0The upgrade is a result of positive indicators from LVS’s earnings call, pointing towards a recovery in the Singapore gaming industry thanks to improving visitation rates and increased flight capacity.<\/p>\n\n\n\n

CLSA analyst\u00a0Sue Lin Lim\u00a0<\/strong>said the target price remains unchanged at SG$1.26 (US$0.93). Marina Bay Sands\u00a0<\/strong>generated a record US$432m in adjusted property earnings before interest, taxes, depreciation, and amortization (EBITDA) for the three months ending June 30. That\u2019s a 24 per cent increase compared to pre-pandemic figures. Year-on-year adjusted property EBITDA was up 35.4 per cent, reaching US$319m.<\/p>\n\n\n\n

Net revenue was up 36.2 per cent in year-on-year terms from US$679m to US$925m. The primary driving force was revenue from casinos, which rose by 29.8 per cent to US$649m.<\/p>\n\n\n\n

The positive results are considered an encouraging signal for Genting Singapore, although it is expected that the latter’s recovery might take longer. CLSA believes that the return of Chinese tourists will be a crucial factor in driving tourism spending in Singapore.<\/p>\n\n\n\n

Keith Tan<\/strong>, the tourism board\u2019s CEO, said in January that the Singapore Tourism Board (STB)<\/strong> expects international visitor arrivals to reach around 12 to 14 million visitors<\/a>, bringing in approximately SGD18.00bn (US$13.62bn) to SGD21.00bn in tourism receipts \u2013 around two-thirds to three-quarters of the levels in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

CLSA has upgraded Genting Singapore’s rating following positive Q2 results from Las Vegas Sands.<\/p>\n","protected":false},"author":176,"featured_media":25660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"CLSA has upgraded Genting Singapore's rating to \"buy\" following robust Q2 results from Las Vegas Sands' Marina Bay Sands property in Singapore. The positive performance, driven by increased visitation and flight capacity, signals a strong recovery trajectory for the integrated resort sector, with implications for Genting Singapore's future earnings. The return of Chinese tourists is anticipated to be a crucial factor in driving further tourism spending.","focusai_entities":"CLSA, Genting Singapore, Las Vegas Sands, Marina Bay Sands, Sue Lin Lim, Keith Tan, Singapore Tourism Board","focusai_location":"Singapore","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting Recovery Drivers","query":"Given Marina Bay Sands' robust Q2 performance, what specific operational or market segment differences might explain CLSA's expectation of a slower recovery for Genting Singapore?"},{"label":"Chinese Tourist GGR Impact","query":"How is the anticipated return of Chinese tourists expected to segment across VIP and mass-market gaming verticals, and what GGR uplift is projected for Singapore's integrated resorts?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-777007653","post","type-post","status-publish","format-standard","has-post-thumbnail","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\/777007653","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=777007653"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007653\/revisions"}],"predecessor-version":[{"id":777007664,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777007653\/revisions\/777007664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777007653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777007653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777007653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}