{"id":777012294,"date":"2024-01-08T10:14:37","date_gmt":"2024-01-08T13:14:37","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777012294"},"modified":"2026-04-22T14:13:50","modified_gmt":"2026-04-22T17:13:50","slug":"genting-group-to-grow-as-chinese-tourists-resume-travel-analysts-say","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/genting-group-to-grow-as-chinese-tourists-resume-travel-analysts-say","title":{"rendered":"Genting Group to grow as Chinese tourists resume travel, analysts say"},"content":{"rendered":"\n<p>Samuel Yin Shao Yang, an analyst at Maybank, also revealed Genting Group could pursue a Thai integrated resort (IR) licence if Thailand legalises casinos.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Singapore.-&nbsp;<strong>Genting Group&nbsp;<\/strong>is gearing up for what could be a big 2024 thanks mainly to the &#8220;mass return of Chinese tourists&#8221;, according to a Maybank Investment Bank report.<\/p>\n\n\n\n<p>Maybank&#8217;s analyst&nbsp;<strong>Samuel Yin Shao Yang&nbsp;<\/strong>stated that Genting Singapore may benefit from a resumption of outbound Chinese tourism post-Covid-19, which could lead to growth in its gaming operations around Asia.<\/p>\n\n\n\n<p>He also noted that despite higher tax rates, Genting Singapore&#8217;s earnings are expected to recover this year, thanks to higher than pre-Covid-19 gaming revenues.&nbsp;<\/p>\n\n\n\n<p>Yin Shao Yang projected that most of the growth in gaming revenue this year would come from Chinese tourists, given&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/singapore-and-china-plan-reciprocal-30-day-visa-free-entry\" rel=\"noreferrer noopener\">the recent policy introduced by Singapore authorities<\/a>&nbsp;granting 30-day visa-free entry to Chinese visitors.&nbsp;<\/p>\n\n\n\n<p>Yin also predicted that&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/analysts-expect-significant-growth-for-resorts-world-sentosa\" rel=\"noreferrer noopener\">Resorts World Sentosa<\/a>, Genting Singapore&#8217;s casino property, could recover completely to pre-Covid-19 levels this year, as seat capacity for flights from China to Singapore recovers.<\/p>\n\n\n\n<p>In the long term, he expected Resorts World Sentosa&#8217;s VIP volume and mass market gross gaming revenue to exceed 2019 levels by around 20 per cent.&nbsp;<\/p>\n\n\n\n<p>Regarding Genting Malaysia, Maybank&#8217;s analyst forecasted that&nbsp;<strong>visitor arrivals to Resorts World Genting<\/strong>, Malaysia&#8217;s sole casino resort, ought to recover to pre-Covid-19 levels this year.&nbsp;<\/p>\n\n\n\n<p>He also noted that&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/malaysia-grants-visa-free-entry-to-chinese-and-indian-tourists\" rel=\"noreferrer noopener\">Malaysian authorities recently granted 30-day visa-free entry to Chinese visitors<\/a>, which would help the recovery in the number of Chinese visiting Resorts World Genting. He anticipated that air connectivity between Malaysia and China would be fully restored this year, which may further boost Chinese visitor arrivals.&nbsp;<\/p>\n\n\n\n<p>The analyst also mentioned that a potentially positive trigger for Genting Malaysia this year would be the firm securing a downstate commercial casino licence in the state of New York in the United States.&nbsp;<\/p>\n\n\n\n<p>The New York State Gaming Commission launched a request for applications process for three downstate New York gaming licenses in January last year.&nbsp;<\/p>\n\n\n\n<p>Samuel Yin Shao Yang also suggested that Genting Group could bid for a Thai IR jointly with Genting Singapore if the country liberalizes its IR industry.<\/p>\n\n\n\n<p>Last October,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/thai-house-committee-to-study-legalisation-of-casinos\" rel=\"noreferrer noopener\">as Focus Gaming News previously reported<\/a>, the Thai House of Representatives established&nbsp;<strong>a 60-member committee&nbsp;<\/strong>tasked with exploring the potential establishment of entertainment complexes with casinos.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Samuel Yin Shao Yang, an analyst at Maybank, also revealed Genting Group could pursue a Thai integrated resort (IR) licence if Thailand legalises casinos.<\/p>\n","protected":false},"author":176,"featured_media":18925,"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 Group is poised for significant growth in 2024, primarily driven by the resurgence of Chinese tourism across its Resorts World properties in Singapore and Malaysia, according to a Maybank Investment Bank report. The group is also exploring strategic expansion opportunities, including a potential integrated resort license in Thailand and a commercial casino license in New York, signaling aggressive market positioning.","focusai_entities":"Samuel Yin Shao Yang, Maybank, Genting Group, Genting Singapore, Maybank Investment Bank, Resorts World Sentosa, Genting Malaysia, Resorts World Genting, New York State Gaming Commission, Thai House of Representatives, Focus Gaming News","focusai_location":"Thailand, Singapore, Malaysia, China, New York, United States","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Genting's Capital Allocation Strategy?","query":"Given the projected GGR growth and potential new market entries in Thailand and New York, what is Genting Group's anticipated capital expenditure and financing strategy for these expansion initiatives?"},{"label":"Competitive Impact of Thai IR?","query":"How would the potential legalization of casinos in Thailand and Genting's entry impact the competitive landscape and market share of existing integrated resorts in Southeast Asia, particularly in Singapore and Macau?"}],"footnotes":""},"categories":[157,158,16333],"tags":[24145],"class_list":["post-777012294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-genting-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012294","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=777012294"}],"version-history":[{"count":1,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012294\/revisions"}],"predecessor-version":[{"id":777012295,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777012294\/revisions\/777012295"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18925"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777012294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777012294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777012294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}