{"id":777010355,"date":"2023-10-20T08:48:24","date_gmt":"2023-10-20T11:48:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010355"},"modified":"2026-04-22T16:56:54","modified_gmt":"2026-04-22T19:56:54","slug":"analysts-expect-significant-growth-for-resorts-world-sentosa","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/analysts-expect-significant-growth-for-resorts-world-sentosa","title":{"rendered":"Analysts expect significant growth for Resorts World Sentosa"},"content":{"rendered":"\n

Growth is expected across all three gaming segments, driven by improving Chinese visitor arrivals.<\/p>\n\n\n\n\n\n\n\n

Singapore.- Resorts World Sentosa (RWS)<\/strong>, operated by Genting Singapore, is anticipated to show year-on-year growth across all three gaming segments for the full year of 2023, according to banking group Nomura<\/strong>.\u00a0Analysts\u00a0Tushar Mohata<\/strong>\u00a0and\u00a0Alpa Aggarwal\u00a0<\/strong>estimate that rolling chip volume, mass table drop, and slot handle will increase by 51, 30 and 21 per cent, respectively.<\/p>\n\n\n\n

This outlook is based on the expected gradual improvement in overseas visitor arrivals from China. According to Nomura, the number of mainland Chinese tourists visiting Singapore in July and August reached 81 per cent and 76 per cent of pre-pandemic levels in 2019. This is based on Singapore Tourism Board data and Nomura’s research.<\/p>\n\n\n\n

Analysts said the overall volume of tourists visiting Singapore in September was only 50 per cent of the 2019 average. However, they noted that this was consistent with other regions. They expect that the number of Chinese tourists visiting Singapore will improve in the fourth quarter.<\/p>\n\n\n\n

Analysts noted that Resorts World Sentosa’s market rival,\u00a0Marina Bay Sands<\/a>, has reported a 13.7 per cent sequential increase in adjusted property EBITDA, reaching US$491m. Net revenues for the property rose by 9.7 per cent quarter-on-quarter to just under US$1.02bn.<\/p>\n\n\n\n

Genting Singapore to generate US$1bn in operating cash flow to 2024<\/h2>\n\n\n\n

Moody\u2019s Investors Service <\/strong>expects Genting Singapore<\/strong> to generate SG$1.4bn (US$1.0bn) in operating cash flow up to December 2024. Moody\u2019s says this coupled with the company\u2019s cash balance, will aptly cover projected capital spending of approximately SG$1.0bn<\/strong>, an estimated dividend payout of around SG$0.6bn and minimal debt repayment.<\/p>\n\n\n\n

According to analysts, as of June 30, Genting Singapore had a \u201cstrong net cash position\u201d with a \u201ccash balance of around SG$3.4bn<\/strong>, compared with lease liabilities of just SG$3m.\u201d It said Genting Singapore\u2019s A3 issuer rating reflects the company\u2019s 100 per cent ownership of Resorts World at Sentosa, which operates Resorts World Sentosa (RWS), and that Genting Singapore expects to retain full access to the resort\u2019s cash flow.<\/p>\n\n\n\n

In the first half of the year, Genting Singapore<\/a> posted a net profit of SG$276.7m (US$205.6m)<\/strong>. Gaming revenue rose 57 per year-on-year to SG$746.9m (US$555m) and non-gaming revenue 82 per cent to SG$333.2m (US$248m). Genting Singapore\u2019s consolidated revenue was up 63 per cent to SG$1.08bn (US$803m).<\/p>\n","protected":false},"excerpt":{"rendered":"

Growth is expected across all three gaming segments, driven by improving Chinese visitor arrivals.<\/p>\n","protected":false},"author":176,"featured_media":777006346,"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 is projected by Nomura to achieve significant year-on-year growth across all gaming verticals for FY2023, driven by improving Chinese visitor arrivals. Moody's Investors Service anticipates Genting Singapore will generate substantial operating cash flow through 2024, supporting capital expenditure and dividend payouts, reflecting a strong net cash position and A3 issuer rating.","focusai_entities":"Resorts World Sentosa, Genting Singapore, Nomura, Tushar Mohata, Alpa Aggarwal, Singapore Tourism Board, Marina Bay Sands, Moody's Investors Service","focusai_location":"Singapore, China","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"China Visitor Impact","query":"What specific policy changes or travel restrictions in China could further accelerate or impede the projected recovery in Chinese visitor arrivals to Singapore, and how might this impact Genting Singapore's GGR projections?"},{"label":"Capital Allocation Strategy","query":"Given Genting Singapore's strong net cash position and projected operating cash flow, what are the strategic priorities for future capital deployment beyond the stated capex and dividend payouts, particularly concerning potential M&A or expansion opportunities?"}],"footnotes":""},"categories":[157,16333],"tags":[23687],"class_list":["post-777010355","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\/777010355","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=777010355"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010355\/revisions"}],"predecessor-version":[{"id":777041105,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010355\/revisions\/777041105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777006346"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}