{"id":777011411,"date":"2023-11-24T09:38:58","date_gmt":"2023-11-24T12:38:58","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011411"},"modified":"2026-04-22T15:16:53","modified_gmt":"2026-04-22T18:16:53","slug":"maybank-raises-genting-earnings-estimates-after-strong-q3-performance","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/maybank-raises-genting-earnings-estimates-after-strong-q3-performance","title":{"rendered":"Maybank raises Genting earnings estimates after strong Q3 performance"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Analysts have raised earnings estimates by 37 per cent.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Malaysia.- Analysts at\u00a0<strong>Maybank Investment Bank\u00a0<\/strong>have revised upward earnings estimates for Genting Berhad, citing a robust performance in the third quarter of 2023.\u00a0Analyst\u00a0<strong>Samuel Shao Yang Yin<\/strong>\u00a0increased his earnings forecast for the current year by 37 per cent, with increments of 15 per cent and 11 per cent for fiscal years 2024 and 2025, respectively.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The key driver was the better-than-expected performance of the Resorts World Sentosa (RWS) VIP segment and contributions from Meizhou Wan. Genting Berhad&#8217;s third-quarter core net profit reached MYR519.8m (US$111m), marking a 203 per cent annual improvement and a 119 per cent quarterly increase.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This was attributed to a 35 per cent quarter-to-quarter increase in RWS VIP gross gaming revenue. Resorts World Las Vegas (RWLV) recorded a EBITDA high of US$52m in the third quarter of the year.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Analysts noted a shift in the mass market mix, expanding margins, but cautioned on the persistent challenge of bad debts, primarily from Chinese VIPs.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/fitch-ratings-says-genting-malaysia-outlook-remains-stable\" rel=\"noreferrer noopener\">Fitch Ratings says Genting Malaysia outlook remains stable<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts have raised earnings estimates by 37 per cent.<\/p>\n","protected":false},"author":176,"featured_media":32940,"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 Investment Bank has significantly raised Genting Berhad's earnings estimates for 2023-2025, following a robust Q3 2023 performance. This uplift is primarily driven by exceptional GGR from Resorts World Sentosa's VIP segment and strong EBITDA from Resorts World Las Vegas, despite ongoing concerns regarding bad debts from Chinese VIPs.","focusai_entities":"Maybank Investment Bank, Samuel Shao Yang Yin, Genting Berhad, Resorts World Sentosa, Meizhou Wan, Resorts World Las Vegas, Fitch Ratings, Genting Malaysia","focusai_location":"Malaysia, Singapore, United States","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.7), operator_casino (0.9), payments_fraud_aml (0.85), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Bad Debt Mitigation","query":"What specific governance frameworks or credit risk management strategies is Genting Berhad implementing to mitigate the persistent challenge of bad debts from its high-value VIP segment, particularly from Chinese patrons?"},{"label":"RWS VIP GGR Sustainability","query":"Given the significant contribution of Resorts World Sentosa's VIP GGR to the earnings uplift, what are the projections for the sustainability of this segment's performance amidst evolving regional competition and regulatory landscapes?"}],"footnotes":""},"categories":[157,16333],"tags":[24145,19394],"class_list":["post-777011411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-genting-group","tag-genting-malaysia"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011411","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=777011411"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011411\/revisions"}],"predecessor-version":[{"id":777040904,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011411\/revisions\/777040904"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/32940"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}